5 months ago
1
The Enforcement Directorate (ED) has facilitated the restitution of assets, earlier attached by the bureau successful transportation with a probe allegedly involving Cox & Kings Limited and others, to the Successful Resolution Applicant (SRA).
Through an bid dated November 11, 2025, the Supreme Court, based connected consent fixed by the ED, restored the said deposit to Lodha Developers Limited nether the provisions of Section 8(8) of the Prevention of Money Laundering Act, an authoritative of the bureau said.
“The Hon’ble Supreme Court placed connected grounds its appreciation for the earnest efforts made by the officers of the Directorate of Enforcement successful restoring the attached properties to unafraid the interests of justice,” the authoritative said.
Investigations had revealed that Cox & Kings Ltd. and its promoters allegedly siphoned disconnected astir ₹4,100 crore from nationalist assemblage banks, according to the agency. From that amount, ₹1,066 crore was transferred to V Hotels Ltd., of which ₹520.80 crore remained outstanding.
“To retrieve the proceeds of crime, the ED attached the immovable properties lasting successful the sanction of V Hotels Ltd. to the tune of ₹520.80 crore. In the meantime, V Hotels Ltd. underwent the Corporate Insolvency Resolution Process earlier the NCLT (National Company Law Tribunal), and Macrotech Developers Ltd. (now Lodha Developers Ltd.) was approved arsenic the SRA vide an bid dated April 26, 2024,” the authoritative said.
Based connected the NCLT order, the authoritative added, the Bombay High Court quashed the attachment made by the ED, and a Special Leave Petition was truthful filed by the bureau earlier the Supreme Court.
“...the apex court, based connected the consent fixed by the Directorate of Enforcement, restituted the said deposit to the SRA, that is, Lodha Developers...,” the authoritative said.
