New Delhi, May 15 -- In an order dated March 4 2025, the Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) had set aside the Enforcement Directorate's (ED) attachment of over Rs.29.28 crore belonging to Buy Hatke Internet Pvt. Ltd., the operator of crypto exchange BitBNS.

The order was delivered by Chairman Justice Munishwar Nath Bhandari and Member V. Anandarajan.

The matter originated from an alleged fraud investigation. Accused entities allegedly induced the public to invest money through apps, promising daily or weekly interest, only to allegedly shut down operations and disappear with the funds. The ED registered an Enforcement Case Information Report (ECIR) following che...