HC sets aside ED order attaching Tech Mahindra’s Rs 822 cr fixed deposits
The Hyderabad High Court Monday set aside an Enforcement Directorate order provisionally attaching Rs 822 crore worth of fixed deposits belonging to Satyam Computer Services Ltd, which was acquired by Tech Mahindra. In 2012, the Enforcement Directorate (ED) had issued provisional attachment orders freezing fixed deposits of Satyam (now merged into Tech Mahindra) in connection with its probe in the money laundering case.The agency provisionally attached the amount alleging that it was ill-gotten proceeds of Satyam Computers.A bench of Justices V Ramasubramanian and J Uma Devi Monday set aside the…
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