New Delhi, Sept. 1 -- The Appellate Tribunal under SAFEMA and PMLA has set aside the order confirming attachment of properties worth about Rs 3.93 crore belonging to M/s Jharkhand Ispat Pvt Ltd, holding that the Enforcement Directorate's case that the company generated "proceeds of crime" through investments linked to a coal-block allocation was fundamentally contradictory and had evolved over time.

Member V Anandarajan, in the final order dated August 31, 2026, allowed the company's appeal against the July 24, 2019 order of the Adjudicating Authority and set aside the impugned order qua Jharkhand Ispat.

The company was represented by advocates Arshdeep Singh Khurana and Simran Khurana, while the Directorate of Enforcement was represent...