Mumbai: Special PMLA Court Rejects ED’s Plea To Confiscate ₹45.49 Crore Jogeshwari Breweries Assets

Mumbai, October 20, 2026: A special Prevention of Money Laundering Act (PMLA) court has denied confiscating assets seized by the Enforcement Directorate (ED) in connection with a money laundering probe against Pune-based Jogeshwari Breweries. The court reasoned that the assets can only be taken at the conclusion of the trial, and there's no indication yet that the trial has begun.

The ED had requested the confiscation of properties valued at Rs 45.49 crore, which were already attached by the agency during the investigation. The agency argued that the attached properties were confirmed by the PMLA Adjudicating Authority on June 30, 2022. The ED further maintained that the confiscation is a key aspect of the PMLA, enabling the seizure of assets derived from or involved in money laundering.

Meanwhile, the resolution professional representing Jogeshwari Breweries in a corporate insolvency resolution process (CIRP) has applied to have the assets released so they can be returned to the pool of assets in the ongoing CIRP. The resolution professional was opposed by Umesh Shinde, a former director of Jogeshwari Breweries, who argued that he had already contested the Adjudicating Authority's order and that the case should not proceed prematurely due to the moratorium imposed.

The court ruled that confiscation can only occur once the trial is concluded and noted that neither the ED nor the resolution professional had demonstrated any quantifiable loss, which wouldn't justify the restoration of the seized assets.