Ruby Mills: Enforcement Directorate attaches bank balance over 2012 transaction

The Ruby Mills Limited announced on October 25, 2025, that the Directorate of Enforcement (ED) attached the company's bank balance of INR 2,59,90,569 held with the Bank of India. This action follows an order dated October 16, 2025, from the deputy director, Directorate of Enforcement. The company stated that this matter has no impact on its current business operations or financial commitments.

The attachment stems from an ED allegation concerning interest earned by Ruby Mills on TDRs created from balance advance proceeds, related to a transaction with Rajput Retail Ltd (RRL) in 2012. Ruby Mills had received an advance from RRL for the purchase of floor space, which was subsequently refunded to RRL's resolution professional. The amount claimed by the ED refers to the financial year 2011-12.

Ruby Mills maintains that the transaction with RRL was a routine commercial activity and denies any involvement or knowledge of alleged irregularities by third parties. The company is seeking legal advice and plans to appeal the decision.