The investigation revealed that Cox & Kings Ltd. and its promoters allegedly siphoned off around ₹4,100 crore from public sector banks, according to the ED. | Photo credit: PTI
The Enforcement Directorate (ED) has facilitated the restitution of assets previously allocated by the agency in connection with investigations allegedly involving Cox & Kings Limited and others to a successful resolution applicant (SRA).
Through an order dated November 11, 2025, the Supreme Court, with the consent granted by the ED, restored the said deposit to Lodha Developers Limited under the provisions of Section 8(8) of the Prevention of Money Laundering Act, an agency official said.
“The Hon’ble Supreme Court has expressed its appreciation for the earnest efforts made by the officials of the Enforcement Directorate in recovering the attached properties to ensure the interests of justice,” the official said.
The investigation revealed that Cox & Kings Ltd. and its promoters allegedly siphoned off around ₹4,100 crore from public sector banks, according to the agency. Of this amount, ₹1,066 crore was transferred to V Hotels Ltd., of which ₹520.80 crore remained outstanding.
“To recover the proceeds of crime, ED has attached immovable property in the name of V Hotels Ltd. amounting to ₹ 520.80 crore. Meanwhile, V Hotels Ltd. has gone through the corporate insolvency resolution process before NCLT (National Company Law Tribunal) and SRA Macrotech Developers Ltd. (now) approved Macrotech’s order on April 2 Developers6. 2024,” the official said.
Based on the NCLT order, the official added, the Bombay High Court quashed the attachment by the ED, hence the agency filed a special leave application in the Supreme Court.
“…the high court, on the basis of approval granted by the Enforcement Directorate, returned the said deposit to SRA, i.e. Lodha Developers…,” the official said.
Published – 26 Nov 2025 22:44 IST
