Overview

• Acting on an October 10 order, 354 flats, 17 commercial units and 2 plots valued at about ₹175 crore were restituted to the successful resolution applicant for the benefit of purchasers in Udaipur’s Royal Rajvilas project.
• The Court recorded appreciation for the Enforcement Directorate’s approach and said its directions were confined to this case, leaving broader PMLA–IBC legal questions open.
• Provisional attachment continues for 11 specific units identified as linked to alleged proceeds of crime, and the ED may act if any other bookings are later found tainted.
• ED said it verified 221 homebuyer claims, with roughly 213 set to benefit, and the Court directed deletion of the corporate debtor’s name from an ED prosecution under IBC Section 32A, subject to conditions.
• The case stems from a CBI-probed Syndicate Bank fraud of ₹1,267.79 crore tied to Bharat Bomb, with ED attachments of about ₹535 crore including ₹83.51 crore as alleged proceeds of crime, and years of conflicting NCLT and Rajasthan High Court orders before the Supreme Court’s resolution.