The Delhi High Court has quashed lookout circulars against Authum Investment officials Amit and Sanjay Dangi in an ongoing money laundering probe. While the travel restrictions have been removed, the investigation related to Reliance Commercial Finance and Reliance Home Finance remains active. The court has set specific conditions for the executives, including cooperation with the Enforcement Directorate and notification for any foreign travel.
The Delhi High Court recently provided legal relief to Amit and Sanjay Dangi, the senior officials of the listed company Authum Investment and Infrastructure Limited. In an order delivered on October 16, Justice Madhu Jain set aside the lookout circulars that had restricted the pair from traveling abroad. The court stated that these travel restrictions were no longer legally justified, emphasizing that the right to travel should not be restricted indefinitely while an investigation is ongoing.
Context of the Investigation
The legal scrutiny is tied to allegations of financial irregularities at Reliance Commercial Finance Limited and Reliance Home Finance Limited, which occurred between 2017 and 2019. Authum Investment subsequently acquired these entities through an insolvency process in 2022. The Enforcement Directorate initiated a money laundering investigation in July 2025, which led to searches at Authum’s premises and repeated questioning of the company's executives. While the Central Bureau of Investigation began a probe into conspiracy and cheating in 2022, the Dangi brothers were not named as accused in those initial filings.
Conditions for Travel and Cooperation
Although the court has removed the travel ban, this relief is conditional. The executives are required to remain fully accessible to the investigative agencies and must respond promptly to all summons. Furthermore, the court has mandated that the Dangis provide advance notice to the investigating officer regarding any proposed foreign travel, including detailed itineraries, destinations, and contact information for the duration of their time abroad. The court has instructed the Enforcement Directorate to communicate this update to the Bureau of Immigration to ensure that records are adjusted accordingly.
What Investors Should Monitor
For investors, the primary monitorable remains the progress of the Enforcement Directorate investigation. The court's order focuses specifically on travel restrictions and does not conclude the ongoing money laundering probe. Legal challenges involving management or related entities can create uncertainty, and the resolution of these proceedings is typically a key factor in long-term governance. Investors may continue to track filings from the company and updates from the PMLA court at Rouse Avenue, where the case is currently being heard. As the company operates in the financial services sector, maintaining regulatory compliance and clear communication remains vital for its reputation and stability.