Dalmia Bharat Limited has announced that the Enforcement Directorate (ED) has ordered the release of land parcels previously attached under a Provisional Attachment Order (PAO) against its subsidiary, Dalmia Cement (Bharat) Limited (DCBL). The order, dated April 21, 2026, follows the submission of a bank guarantee of ₹92.52 crore by DCBL.
The PAO, initially issued on March 31, 2025, had provisionally attached land parcels of DCBL, a wholly-owned subsidiary of Dalmia Bharat, as part of proceedings under the Prevention of Money Laundering Act (PMLA). The attachment was confirmed by the Adjudicating Authority on September 22, 2025. However, an appeal to the PMLA Tribunal resulted in a partial allowance, reducing the alleged Proceeds of Crime (PoC) from ₹793.34 crore to ₹92.52 crore.
In response to the tribunal’s decision, DCBL submitted an application to the ED, accompanied by the required bank guarantee, which led to the release of the attached properties. Despite this development, DCBL is preparing to file an appeal against the impugned order concerning the remaining alleged PoC of ₹92.52 crore.
The release of the land parcels is expected to have a significant impact on the financial and operational activities of the company, as it marks a reduction in the alleged PoC and the return of valuable assets to DCBL.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).