Delhi HC permits exchange of property attached by ED with a security of equal amount

The Delhi High Court recently allowed M/s Revati Cements Pvt Ltd, implicated in the coal allocation scandal, to substitute its seized property with a bank guarantee of equal value. The Enforcement Directorate (ED) had attached the company's land in Madhya Pradesh, intended for a cement plant, during its investigation into the coal scam. Revati Cements argued in court that the attachment had halted project development and caused substantial losses, proposing a bank guarantee as a replacement.