Electrotherm (India) Ltd

Electrotherm ED Investigation Update ⚖️

• Directorate of Enforcement (ED), Ahmedabad investigated Electrotherm (India) Ltd. and Executive Vice Chairman Mr. Shailesh Bhandari

• Bank accounts frozen: ₹34.29 crore for the company and ₹83.18 lakh for Mr. Bhandari

• A car was seized during the investigation

• Gujarat High Court permitted the company to approach ED for car release by providing a fixed deposit receipt of ₹3.20 crore (depreciated car value)

• Car was released from seizure on February 4, 2026