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Dalmia Bharat Ltd. ( (IN:DALBHARAT) ) has issued an update.
Dalmia Cement (Bharat) Ltd., a material wholly owned subsidiary of Dalmia Bharat, has received a final order from the PMLA Appellate Tribunal that partially allows its appeal against an Enforcement Directorate provisional attachment. The Tribunal has substantially reduced the alleged proceeds of crime from Rs. 793.34 crore to Rs. 92.52 crore, leading to a corresponding reduction in the ED-attached land parcels.
The company plans to apply to the ED for release of the attached land parcels and may offer substitute security where required, which could ease constraints on its asset base and operational flexibility. DCBL is also reviewing the Tribunal’s findings and, disagreeing with the characterization of Rs. 92.52 crore as proceeds of crime, intends to pursue further legal remedies, keeping some regulatory and legal uncertainty in place for stakeholders.
More about Dalmia Bharat Ltd.
Dalmia Bharat Ltd. is a leading Indian cement manufacturer operating through its material wholly owned subsidiary Dalmia Cement (Bharat) Ltd. The group focuses on producing and marketing cement and related building materials across India, with a significant presence in key construction and infrastructure markets.
Average Trading Volume: 15,435
Technical Sentiment Signal: Sell
Current Market Cap: 347.3B INR
For a thorough assessment of DALBHARAT stock, go to TipRanks’ Stock Analysis page.