Mumbai, October 27, 2026: The Bombay High Court has quashed an order taking cognisance against OctaFX India Private Limited, now known as Tauga Pvt Ltd, in a case involving the Enforcement Directorate (ED), observing that the required legal procedure had not been followed.
Justice Milind Jadhav, on October 26, set aside the December 24, 2024, order. The court said the accused must be given an opportunity to be heard after the prosecution’s reply is considered before a decision is taken on cognizance.
Company Directed To Appear Before Trial Court
The High Court directed the company to appear before the trial court on November 18. The trial court must hear the objections raised by the company and the co-accused under the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, before deciding whether to take cognizance of the case against them.
The prosecution sought a direction to complete the hearing within eight weeks. However, the High Court left it to the trial court to decide the timeline based on its workload and convenience.
Red Corner Notice Proceedings Set Aside
The High Court also set aside the subsequent proceedings for issuing a Red Corner Notice or a non-bailable warrant against the company in this case.
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While disposing of the petition, the HC directed the prosecution to ensure that the other accused are served notices as required by law.
The order provides procedural relief to the company and does not amount to an acquittal or a decision on the underlying allegations.
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