Mumbai: In a major relief to V Hotels (formerly M/s. Tulip Hospitality Services Ltd), the Bombay High Court has quashed an attachment order issued by the Adjudicating Authority under the Prevention of Money Laundering Act (PMLA). This order followed a provisional attachment issued by the Enforcement Directorate (ED).
V Hotels had challenged the provisional attachment order dated April 25 by the ED and the subsequent complaint filed by the central agency on May 22 before the Adjudicating Authority. The adjudicating authority confirmed the attachment of 12 properties, including the V Hotel near Juhu Beach, on May 27.
The hospitality company contended that it had undergone a successful…
