Dalmia Bharat Faces Provisional Attachment Order Of ₹7.93 Billion

Dalmia Bharat on Wednesday announced that its wholly owned subsidiary, Dalmia Cement (Bharat) Ltd., has received a provisional attachment order from the joint director of the Enforcement Directorate  in Hyderabad, amounting to ₹7.93 billion. The order pertains to the land owned by Dalmia Cement (Bharat), which had a historical purchase value of ₹3.77 billion, according to the company’s exchange filing.

This development is connected to an earlier case filed by the Central Bureau of Investigation in 2011, where allegations were made against Dalmia Cement (Bharat) regarding its investments in Bharathi Cement Corp. The matter is currently under litigation before the CBI court in Hyderabad.

The company clarified that this order will not affect its operations and noted that Dalmia Cement (Bharat) is reviewing the order and will take appropriate legal action to defend its position.