Fino Payments Bank: High Court Partly Allows Petition on ₹11.92 Cr Lien

Fino Payments Bank Limited has received an order from the Hon'ble High Court of Karnataka regarding a petition it filed challenging an order from the Hon'ble Session Court. The Session Court had previously upheld a lien marked by the CID on ₹11.92 Crores in the bank's account, related to an investigation where the bank's services were used by four merchants. The High Court has now partly allowed the bank's petition, quashed the Session Court's order, and remanded the matter back for reconsideration within eight weeks, taking into account the High Court's observations. The bank maintains that neither it nor its employees are involved in the incident.