Legal12 Mar 2026, 04:42 pm
Fino Payments Bank Ltd Fails to Remove CID Lien on ₹11.92 Crores in Karnataka Government Investigation
AI Summary
Fino Payments Bank Ltd has received an order from the Hon’ble XXIII Addl. City Civil & Sessions Judge & Special Judge (P.C. Act) at Bengaluru, which did not accept the Bank's application to remove a CID lien on ₹11.92 Crores. The CID had marked this lien in relation to an ongoing investigation of an incident reported by one of the Karnataka Government’s Undertaking. The Bank had filed an application challenging the lien in March 2025, but it was not accepted by the Court. The Bank intends to challenge this order by filing an appeal before the High Court of Karnataka.
Key Highlights
- Fino Payments Bank Ltd received an order from the Hon’ble XXIII Addl. City Civil & Sessions Judge & Special Judge (P.C. Act) at Bengaluru regarding a CID lien on ₹11.92 Crores.
- The CID had marked the lien in relation to an ongoing investigation of an incident reported by one of the Karnataka Government’s Undertaking.
- The Bank filed an application challenging the lien in March 2025, but it was not accepted by the Court.
- The Bank plans to challenge the order by filing an appeal before the High Court of Karnataka.
- Neither the Bank nor any of its employees are involved in the said incident.