Amit
I all humility, I think you have completely misread the Delhi HC judgement.
First, the petitioners are Omar Ali Balsharaf Vs Enforcement Directorate.
KRBL is not involved in the petition, so the High Court has not at all gone into deciding on the question of whether KRBL is guilty of any wrong-doing.
The limited question the High Court has decided on is since the shares were bought by Balsharaf in 2003 before the “alleged” crime took place, he could not have bought the said shares with the “crime money.”
Thus, ED was wrong in blocking the sale of shares and wrong in freezing (confiscating) the shares.
In fact, during the case hearing ED has been very elaborate of how KRBL was used to route the bribe money.
In fact, have a look at this
Let us try to add 2+2 and try and connect a few dots - I agree the following exercise is pure witch hunting, but it helps to know
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Brother of Congress MLA (Aditya Khanna) from Sangrur admits to being complicit in the Oil for food scam (2006). KRBL rice mill is located in Sangrur.
Aditya Khanna is also related to Natwar Singh the ex-foreign minister of India.
Khanna admits role in Oil-for-Food scam | India News - Times of India -
Andaleeb Sehgal, close friend and “saala” of the son of Natwar Singh - Jagat Singh is named in the Oil for Food scam by the US Volcker enquiry in the oil for food scam.
Andy's story - Nation News - Issue Date: Nov 21, 2005 -
Come 2016, father of the Aditya Khanna from Sangrur is named in the Embraer defense deal. Vipin Khanna is known to be a defense dealer and his name as popped up almost in all defense scams in the last 15 years
CBI Names UK NRI in Embraer Scam - Asian News from UK
It is pertinent to note that the latest “provisional attachment” of property of KRBL by the ED is in the Embraer case.
So to conclude
- Delhi HC never said KRBL is not involved in the crime that was committed (VVIP Chopper scam)
- There seems to be some uncomfortable connection between the various entities involved across multiple scam. Of course KRBL has not been accused of being a main party to crime.
- Embraer is a new case - we don’t have much information on this yet.
- KRBL is a very robust operating business. Unless there is accounting fraud in the company, these issues should get sorted in the next few years (either guilty/not guilty). In the meantime, the operating business will keep performing well/better.