NSE/BSE Codes: BSE: 543386, NSE: FINOPB
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure under SEBI Listing Regulations regarding a court order received by Fino Payments Bank Limited related to removal of lien marked on ₹11.92 Crores.
Involved Parties / Authorities:
- Hon'ble High Court of Karnataka
- Hon'ble XXIII Addl. City Civil & Sessions Judge & Special Judge (P.C. Act) at Bengaluru
- Criminal Investigation Department (CID) of Karnataka
- Four merchants of the Bank (unnamed)
- Undertaking of Karnataka Government (unnamed)
Date / Timeline of Event:
- March 2025: CID marks lien on ₹11.92 Crores in bank account
- March 28, 2025: Bank's initial disclosure to exchanges
- March 04, 2026: Sessions Court order not accepting Bank's application
- March 12, 2026: Bank's follow-up disclosure to exchanges
- November 04, 2026: High Court of Karnataka order date
- November 05, 2026: Bank receives High Court order
- November 06, 2026: Disclosure filed with exchanges
Brief Description of Outcome / Dispute:
The CID had marked a lien on ₹11.92 Crores in the bank account of Fino Payments Bank Limited in relation to its ongoing investigation of an incident reported by one of the Undertaking of Karnataka Government. The CID investigation involved four merchants of the Bank. The Bank filed an application challenging the lien marked by the CID before the Sessions Court at Bengaluru for removal of the lien. The Sessions Court did not accept the Bank's application in its order dated March 04, 2026. The Bank then filed a petition before the High Court challenging the Sessions Court order.
Impact of Outcome:
Financial Impact:
The lien amount of ₹11.92 Crores remains subject to the legal proceedings. No specific financial impact on P&L or balance sheet is disclosed in this filing.
Operational / Business / Strategic Impact:
The Bank has explicitly stated that neither the Bank nor any of its employees are involved in the incident under investigation. The matter involves the services of four merchants of the Bank, but the Bank maintains its non-involvement.
Other Implications:
The High Court has partly allowed the petition filed by the Bank and quashed the order dated March 04, 2026 passed by the Sessions Court. The matter has been remanded back to the Sessions Court for reconsideration within eight weeks from the date of receipt of the High Court order, bearing in mind the observations made by the High Court.
Next Steps / Required Actions:
The Hon'ble Sessions Court must reconsider the matter within eight weeks from the date of receipt of the High Court order dated November 04, 2026, taking into account the observations made by the High Court.