India, July 20 -- In an important judgment on protecting the value of frozen investments the Chhattisgarh High Court has said that freezing an asset is not enough. Its financial value must be protected also while the legal proceedings are ongoing.

The case has involvement of Rs.423 crore held by several companies. Including companies like Dream Achiever Consultancy Services Pvt. Ltd, Discovery Buildcon Pvt. Ltd., Forest Vincom Pvt. Ltd., Brilliant Investments Consultant Pvt. Ltd., Ability Ventures Pvt. Ltd., Ability Smartech Pvt. Ltd., Ability Games Limited, and Savarna Bhumi Vanijya Pvt. Ltd.

Knowing the market risk, the High Court has allowed these companies to submit a proposal to the Enforcement Directorate (ED). Under this proposal...