Pune: Relief for Avinash Bhosale as Bombay HC Quashes ED’s Property Attachment
Pune, 22nd October 2026: The Bombay High Court on Wednesday quashed the Enforcement Directorate’s (ED) attachment of assets worth Rs25 crore linked to Pune-based businessman Avinash Bhosale and entities associated with his family in connection with an alleged financial fraud case.
The court observed that the ED had failed to establish a link between the transactions in question and the alleged proceeds of crime.
A division bench of Justices Ajay Gadkari and Kamal Khata rejected the ED’s arguments and upheld the appeals filed by Bhosale, his wife Gauri and Samit Realty Pvt Ltd. The bench also dismissed the ED’s appeal challenging the order of the appellate tribunal.
The ED had attached a 6,143.71-square-metre plot in Pune, valued at Rs14.65 crore and held in the names of Bhosale and Gauri, along with a 20,200-square-metre plot in Nagpur. The total value of the attached properties was Rs25 crore.
The attachment was part of an investigation into an alleged Rs3,983-crore financial fraud involving transactions between Yes Bank and Dewan Housing Finance Corporation Ltd (DHFL).
The ED had alleged that Rs164.64 crore was transferred to Bhosale and entities linked to him through an investment advisory agreement and a transaction involving the sale of a dairy business.
While setting aside the attachment, the high court observed that authorised banking transactions undertaken in the ordinary course of business could not automatically be treated as proceeds of crime without establishing the necessary link to the alleged offence.
