Supreme Court Stays High Court Order on Benami Shares in Som Distilleries Case

The Supreme Court stayed an interim order by the Madhya Pradesh High Court that allowed the release and sale of ₹350 crore worth of shares in Som Distilleries Breweries & Wineries Ltd., allegedly benami assets under the Prohibition of Benami Property Transactions Act, 1988.

The High Court had permitted a swap of attached shares with those held by alleged beneficial owners. The Central Government challenged this, arguing it violated the law and risked irreversible financial loss.

The Supreme Court criticized the order as bordering on perversity, stayed the relief, but permitted the High Court to continue hearing the writ petition.