Jm Financial Asset Reconstruction ... vs Deputy Director, Directorate Of ...

ik-33814568 Delhi High Court 20 February 2026 • 5 min read

Judges (2)

Navin Chawla Delivered Ravinder Dudeja Coram

Counsel (4)

Anurag Jain Counsel Respondent Priyal Sarawagi Counsel Appellant Shruti Raina Counsel Appellant Vansh Dhall Counsel Appellant

Parties (2)

Deputy Director, Directorate of Enforcement, Mumbai Respondent JM Financial Asset Reconstruction Company Limited Appellant

Case Significance

Jm Financial Asset Reconstruction ... vs Deputy Director, Directorate Of ... is a Delhi High Court decision dated February 20, 2026 (citation: ik-33814568). JM Financial Asset Reconstruction Company filed an appeal under Section 42 of PMLA challenging the Appellate Tribunal's dismissal of its appeal against property attachment. The respondent raised a preliminary objection on territorial jurisdiction, arguing the appellant was situated in Mumbai and the cause of action arose in Maharashtra. The Delhi High Court dismissed the appeal for lack of territorial jurisdiction, holding that under the Explanation to Section 42 PMLA, only the High Court whe The bench comprised Justices Navin Chawla and Ravinder Dudeja. The judgment was delivered by Justice Navin Chawla. Counsel appearing: Anurag Jain (counsel for respondent), Priyal Sarawagi (counsel for appellant), Shruti Raina (counsel for appellant), Vansh Dhall (counsel for appellant).

Summary

JM Financial Asset Reconstruction Company filed an appeal under Section 42 of PMLA challenging the Appellate Tribunal's dismissal of its appeal against property attachment. The respondent raised a preliminary objection on territorial jurisdiction, arguing the appellant was situated in Mumbai and the cause of action arose in Maharashtra. The Delhi High Court dismissed the appeal for lack of territorial jurisdiction, holding that under the Explanation to Section 42 PMLA, only the High Court where the aggrieved party resides or carries on business has jurisdiction, and parties cannot confer jurisdiction by consent.

What was the outcome of Jm Financial Asset Reconstruction ... vs Deputy Director, Directorate Of ...?

JM Financial Asset Reconstruction Company filed an appeal under Section 42 of PMLA challenging the Appellate Tribunal's dismissal of its appeal against property attachment. The respondent raised a pre...

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (ik-33814568)