Bombay HC rules ₹25 crore to ABIL was not crime proceeds
In short
The Bombay High Court said the ₹25 crore received by Avinash Bhosale’s firm ABIL in 2019 was not proceeds of crime.
The court also cancelled the provisional seizure of properties linked to him. The report does not say what happens next or whether there will be an appeal.
What the reporting says
The Bombay High Court ruled in favor of builder Avinash Bhosale, saying the ₹25 crore received by his firm ABIL in 2019 was not proceeds of crime, according to the report. The court also annulled the provisional seizure of properties linked to Bhosale and said the company’s transactions were lawful. The reporting does not state the full case history, the specific properties involved or whether further appeals are planned.
Why it matters
The Bombay High Court gave relief to builder Avinash Bhosale by ruling that ₹25 crore received by ABIL in 2019 was not criminal proceeds and by annulling the provisional seizure of related properties. The decision undercuts the Enforcement Directorate’s earlier suspicion, at least as described in the reporting. The remaining unknowns are the wider procedural history and whether the matter will be challenged further.