Bombay High Court Directs ED Deposit Interest to Armed Forces Welfare Fund
4 hours agoPolitics
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1 SourcesMumbai, India
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Bombay High Court Directs ED Deposit Interest to Armed Forces Welfare Fund

The Bombay High Court has ordered that 50% of the interest earned on a Rs 46.5 crore deposit by the Enforcement Directorate (ED) be paid to the Armed Forces Battle Casualties Welfare Fund. This ruling came while dismissing ED appeals against a tribunal decision that had set aside the attachment of Rs 141.50 crore in assets belonging to Shapoorji Pallonji Company Ltd (SPCL). The ED had claimed the funds were proceeds of crime linked to a public servant, but SPCL argued they were payments under a land purchase agreement.

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