PMLA Tribunal Cuts ED’s ‘Proceeds of Crime’ Claim Against Dalmia Cement from ₹793 Crore to ₹92.52 Crore

The PMLA Appellate Tribunal granted significant relief to Dalmia Cement by reducing the Enforcement Directorate’s (ED) alleged proceeds of crime (PoC) from ₹793.34 crore to ₹92.52 crore in a money-laundering case.

The case stems from allegations that the company made quid-pro-quo investments linked to former Andhra Pradesh Chief Minister Y. S. Jagan Mohan Reddy in return for a limestone mining lease.

The Tribunal partly allowed Dalmia Cement’s appeal against the ED’s provisional attachment order, which had earlier targeted assets worth over ₹793 crore.

Following the ruling, the attached assets and land parcels may be proportionately reduced, though the company has indicated it may pursue further legal remedies.

[Dalmia Cement (Bharat) Ltd v. Deputy Director, Directorate of Enforcement]