Authority: Supreme Court of India

Order Date: 06-08-2026

Case Overview

  • Petition for Special Leave to Appeal (C) No.17973/2022, arising from the impugned final judgment and order dated 14-09-2022 in CA No.2/2022 of the High Court of Gujarat, Ahmedabad.
  • Petitioners: Consortium of GSEC Ltd and Rakesh Shah.
  • Respondents: Union of India & others.
  • Hearing conducted on 06-08-2026 before Hon'ble Mrs. Justice B.V. Nagarathna and Hon'ble Mr. Justice Manmohan.
  • Counsel for petitioner: Mr. Maninder Singh (Senior Advocate), Mr. Malak Manish Bhatt (Advocate on Record), Ms. Somya Saxena (Advocate).
  • Counsel for respondents: Mr. Anil Kaushik (ASG), Mr. Zoheb Hossain (Advocate), Mr. Arkaj Kumar (Advocate), Mr. Pranjal Singh (Advocate), Ms. Ankita Chaudhry (Advocate), Mr. Nischal Tripathi (Advocate), Mr. Mukesh Kumar Maroria (Advocate on Record), Mr. A. K. Sharma (Advocate on Record).
  • The Court, without examining the merits, disposed of the Special Leave Petition and issued specific directions.

Directions Issued

  • The Special Court at Ahmedabad dealing with proceedings under the Prevention of Money Laundering Act, 2002 (PMLA) shall hear and decide, on its own merits and in accordance with law, the application filed by the new management of Diamond Power Infrastructure Ltd under Section 8(8) of the 2002 Act for the release/restitution of properties attached by the Enforcement Directorate, expeditiously.
  • The Regular First Appeal No.5180/2019 pending before the High Court of Gujarat shall also be disposed of accordingly.
  • The Court expressly states that it is disposing of the Special Leave Petition with the aforesaid directions and has not gone into the merits of the matter.
  • All pending applications in the present proceedings shall stand disposed of.

Final Outcome

  • The Special Leave Petition No.17973/2022 is dismissed.
  • The Special Court in Ahmedabad is directed to adjudicate Diamond Power Infrastructure Ltd’s Section 8(8) application under the PMLA.
  • The First Appeal No.5180/2019 before the Gujarat High Court is to be disposed of as per the Court’s direction.

Topics: Court Order, Money Laundering, Legal Proceedings