The Supreme Court on Wednesday directed Lodha Developers, which acquired V Hotels Limited through an insolvency process, to deposit Rs 520.8 crore within four weeks to vacate the Enforcement Directorate’s attachment of land parcels worth Rs 4,000 crore.
The Apex Court passed the verdict on a petition filed by the national agency, challenging the Bombay High Court order that quashed ED’s money laundering case against V Hotels and set aside the provisional attachment of 12 of its properties in Mumbai.
The matter pertained to the action taken by ED against V Hotels, owner of Tulip Star, formerly known as the iconic Centaur Hotel in Juhu. The agency had provisionally attached…