Mumbai Sessions Court Closes PMLA Proceedings Against DHFL in Yes Bank Case

A Mumbai sessions court has closed proceedings against DHFL (now Piramal Capital and Housing Finance Ltd) in the Yes Bank–DHFL money laundering case, granting it immunity under Section 32A of the Insolvency and Bankruptcy Code.

The Court held that once an NCLT-approved resolution plan results in a change of management and control, the corporate debtor cannot be prosecuted for offences committed before CIRP.

While DHFL’s criminal liability stands extinguished, the Court clarified that proceedings against its former promoters and other accused will continue independently under the PMLA.

[DHFL v. ED]