A Special PMLA Court in Mumbai has discharged Dewan Housing Finance Corporation Limited (DHFL), currently operating as Piramal Finance Limited, from money laundering allegations related to a ₹5,050 crore case. The decision follows legal proceedings in which DHFL was represented by the law firm Trilegal.
The court found insufficient evidence to proceed with the charges against DHFL under the Prevention of Money Laundering Act (PMLA). This ruling marks a significant development in the long-running investigation involving the financial institution.
**Why this matters**
The discharge of DHFL from these charges removes a major legal hurdle for the company, allowing it to focus on its business operations without the burden of ongoing criminal proceedings. It also reflects the judiciary’s role in scrutinizing evidence before pursuing complex financial crime cases.
Source: NewsData