Shardul Amarchand Mangaldas & Co Represents JK Tyre & Industries Ltd. in Delhi High Court, Secures Quashing of Freezing Order under PMLA
The leading law firm in India, Shardul Amarchand Mangaldas & Co, successfully represented JK Tyre & Industries Ltd. in protracted litigation under the Prevention of Money Laundering Act, 2002, before the Hon’ble High Court of Delhi (W.P. (C) 11478 of 2022), which set aside a freezing order imposed on the company’s bank account.
Background of the Case
The unprecedented case involved a freezing order issued at the request of the Government of Brazil under the UN Convention Against Corruption and the UN Convention Against Transnational Organised Crime, in connection with the high-profile corruption scandal surrounding former governor Sergio Carbel. The order sought to secure alleged “proceeds of crime” linked to the international investigation.
Court Proceedings and Outcome
In the judgement, the Hon’ble High Court of Delhi quashed the freezing order. This was the second round of litigation for JK Tyre & Industries Ltd., following the quashing of the first freezing order in JK Tyre & Industries Ltd. v. Directorate of Enforcement (W.P. (C) 5713 of 2020).
Team Involved
JK Tyre & Industries Ltd. was represented by Alina Arora (Partner), Anoopam N. Prasad (Counsel), and Nimrah Alvi (Principal Associate) represented the client, with Mr. Sidharth Luthra (Senior Advocate), lead the arguments before the Court.
Conclusion
This landmark victory reinforces Shardul Amarchand Mangaldas & Co’s expertise in handling complex domestic and international litigation under the PMLA, demonstrating the firm’s capability in protecting corporate interests in high-stakes cross-border disputes.
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