Fino Payments Bank recently announced that it will approach the Karnataka High Court after a Bengaluru court rejected its plea seeking removal of a lien of ₹11.92 crore. The bank received the order on March 11, 2026, relating to its application before the XXIII Additional City Civil and Sessions Judge and Special Judge (P.C. Act) in Bengaluru.
The order itself was dated March 4, 2026.
The bank had filed the application in connection with a lien placed on funds in its account by the Crime Investigation Department (CID). The court declined to grant the relief sought by the bank, prompting it to plan an appeal before the Karnataka High Court.
The CID had marked a lien on ₹11.92 crore in a bank account of Fino Payments Bank as part of an ongoing investigation. The case relates to an incident reported by an undertaking of the Karnataka government.
According to information shared by the CID, the accused in the case allegedly used the services of 4 merchants associated with the bank. The lien was placed during the investigation into the reported incident.
Fino Payments Bank stated that neither the bank nor any of its employees are involved in the incident being investigated. The bank said the alleged activities were linked to certain merchants whose services were used by the accused.
The bank had approached the Bengaluru court in March 2025, seeking removal of the lien placed by the CID on the funds. However, the court did not accept the application and the lien remains in place.
The development was disclosed on March 12, 2026. The filing was submitted to stock exchanges to report the change in status of the legal proceedings. The disclosure noted that the bank will challenge the order by filing an appeal before the Karnataka High Court.
As of March 13, 2026, 12:09 pm, Fino Payments Bank share price was ₹172.80, a 2.75% decrease from the previous closing price.
Following the rejection of its plea by the Bengaluru court, Fino Payments Bank has said it will pursue legal remedies before the Karnataka High Court regarding the ₹11.92 crore lien linked to the CID investigation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 13, 2026, 1:06 PM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
