Supreme Court Allows M3M India to Substitute ₹317 Crore ED-Attached Property to Resume Gurugram Project

The Supreme Court allowed M3M India to substitute ₹317 crore worth of property attached by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), enabling the continuation of its commercial project in Gurugram.

The bench, comprising Justices PS Narasimha and R Mahadevan, emphasised that the relief was granted considering the specific facts of the case and would not serve as a precedent.

The substitution was accepted based on ED’s valuation and subject to strict safeguards, including indemnity bonds and no-encumbrance certificates. The order does not affect the merits of the ongoing investigation.