F Mec International is facing asset attachment as adjudicating authority confirms PMLA order against promoter Manoj Kumar Jain

F Mec International Financial Services Ltd finds itself at the center of controversy following a confirmation by the adjudicating authority of an interim attachment order against company promoter Manoj Kumar Jain under the Prevention of Money Laundering Act (PMLA). The order completes enforcement action that was already started, with profound effects on the company's compliance and corporate governance.

 

Key Highlights:

Leadership Insights:

A spokesperson for the company said,

"We are committed to transparency and legal compliance. All necessary stakeholder updates will be provided as the case progresses."

 

Outlook:

F Mec International will be expected to cooperate closely with regulatory bodies as the probe goes on, with stakeholders watching out for next moves by the company and its promoter.

 

Source: Enforcement Directorate statement, company release, April 18, 2025.