Partner Lease OOD, a European Limited Liability Company incorporated under the laws of the Republic of Bulgaria, has filed a petition with the Kerala High Court to reclaim Rs 75 Crores, which was seized by the Directorate of Enforcement (ED) in 2017.

Justice Bechu Kurian Thomas has served notice to the Directorate of Enforcement (ED), and the Standing Counsel has requested additional time to submit a statement. The sum in question was seized by the ED following allegations that Trade International, an Indian proprietorship firm, attempted to deceive by using counterfeit shipping documents to unlawfully acquire 75 crores of rupees as payment for exporting sunflower oil and sugar from a Bulgarian company named Zvezda (AD).

Following the directives of the Bulgarian Insolvency Court, the petitioner company assumed the role of successor to the interests of Zvezda – AD when it faced insolvency in 2017. Counsel for the petitioners, Advocate Guneet Singh Sidhu, supported by Advocates Pushpendra Bhadoriya and Radharaman Rajoriya, contended that the Directorate of Enforcement (ED) had previously acknowledged that the Bulgarian company was a victim of the fraudulent activities perpetrated by Trade International.

Furthermore, it was contended that the Directorate of Enforcement (ED) began questioning the legitimacy of the petitioner company only after they filed a claim petition seeking the restoration of Rs 75 crore.

The matter is listed for further hearing on April 11, 2024.

The plea is moved by Advocate Souradh C. Valson

Case title: Partner Lease OOD v Deputy Director, Directorate Of Enforcement & Ors.

Case number: CRL. M.C. 1689 of 2024