Supreme Court Allows Lodha Developers to Reclaim 520.80 Crore from V Hotels Limited

In a recent development, the Hon’ble Supreme Court of India has passed an Order permitting restitution of 520.80 crore, along with accrued interest, to Lodha Developers Limited (LDL). This order affirms LDL’s position as a bonafide successful Resolution Applicant of V Hotels Limited (VHL) with a legitimate interest in its property. The security deposit of 520.80 crore was earlier made by the Company against claims on VHL. The Supreme Court's order implies that LDL can now reclaim this amount, thereby affirming their legal and financial stake in the property. This development is a significant one in the ongoing saga of VHL's resolution process.