The Delhi High Court has directed the Enforcement Directorate to immediately release cash, jewellery, vehicles and fixed deposits seized from M3M Group and its promoters, after noting that the agency had already provisionally attached properties worth ₹404 crore.
Justice Mini Pushkarna also ordered the release of land title deeds that had been separately deposited during the proceedings. The court clarified that the order did not amount to any finding on the merits of the ED’s provisional attachment or the wider proceedings against the M3M Group of Companies.
The case arose from a petition filed by Roop Bansal and others challenging summons, seizure orders and the freezing of bank accounts linked to the group.
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ED Says Seized Assets Are No Longer Part of Investigation
The proceedings concerned searches conducted by the ED under Section 17 of the Prevention of Money Laundering Act at the business and residential premises of M3M Group and its owners and promoters on July 1, 2023.
During the case, the ED informed the court that the seized cash, jewellery, vehicles and fixed deposits were no longer part of the investigation.
The agency had separately issued a provisional attachment order on July 17, 2026, covering land parcels valued at ₹404 crore.
The court noted that since the ED had already attached properties of substantial value and had itself stated that the other seized assets were no longer required for the investigation, those assets should be released to the petitioners.
Court Also Orders Release of Land Title Deeds
The petitioners had also sought relief concerning land title deeds deposited during the proceedings.
They argued that the relevant land parcels were owned by them and were free from encumbrances. An affidavit dated September 19, 2026, was filed in support of that position.
The High Court noted that the land parcels whose title deeds had been deposited pursuant to an earlier court order did not form part of the ED’s July 17 provisional attachment order.
The court therefore directed that those title deeds also be released.
The petition had originally challenged summons issued in June 2023 requiring two petitioners to appear before the authorities. During the proceedings, however, the petitioners acknowledged that the challenge to those summons had become infructuous.
₹404 Crore Attachment Remains Unaffected
While granting relief over the seized assets, the High Court made it clear that its order did not interfere with the ED’s provisional attachment of properties worth ₹404 crore.
The court also said the decision should not be treated as an expression of opinion on the merits of the attachment order or on any pending proceedings involving the M3M Group of Companies.
The ruling was limited to the release of the cash, jewellery, vehicles, fixed deposits and land title deeds that were no longer required as part of the investigation.
With those directions, the petition was disposed of.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
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