Enforcement Directorate Allowed to Finalize Rs. 40 Crore Property Sale While Accused Must Deposit Rs. 25 Crores or Face Bail Cancellation

The SC permitted the Enforcement Directorate to finalize the sale of one property valued at approximately Rs. 40 crores, while directing immediate fresh auction of a second property following a failed first attempt. The Court maintained its previous order requiring the accused to deposit Rs. 25 crores within three months, failing which bail would be automatically cancelled without further orders, allowing the Enforcement Directorate to take the accused into custody. The Court indicated it would cease monitoring the litigation if the accused returned to custody. The ED was instructed to proceed with auctioning all attached properties to maximize recovery. The Court determined the petitioner's miscellaneous application was maintainable based on the proposal presented. .....

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