Mumbai: Special PMLA Court Allows ICICI Bank To Place ₹33.02 Crore Mehul Choksi Case Rental Income In Fixed Deposit
· Free Press Journal
Mumbai, August 25, 2026: The special court allowed the plea filed by ICICI Bank to receive the rental income worth Rs 33 crores from a store located in a mall in Kolkata. The plea was moved in connection with properties attached in connection with the money laundering case lodged against Mehul Choksi.
The bank had moved the plea seeking the amount of Rs 33 crores received by the Enforcement Directorate, through rental income from the properties attached in the case.
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The bank has sought permission to transfer the amount deposited in another bank's account, with future rentals accruing till completion of the auction, into a fixed deposit maintained with it in the name of this court.
ED Gives No Objection
ED, however, gave no objection for the release of the amount, but with the condition that it should not be transferred for any purpose till the final disposal of the matter.
The court, while allowing the plea, said that, "the huge amount of Rs 33.02 crores is lying in the aforesaid account and it would be appropriate to allow the applicant keep the said amount in fixed deposits so that, the accrued interest will benefit the beneficiary.
"If the said amount is kept as it is in the aforesaid account, then the beneficiary would suffer by huge loss of interest."
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The court has, however, said the fixed deposit shall be in the name of the Special Court, PMLA Special Case No.9/2018, and shall not be subject to any lien, set-off, appropriation or adjustment by the applicant, ICICI Bank, against any outstanding dues claimed by it.
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