Overview
- The restored sum, with accumulated interest, will be returned to Macrotech Developers (Lodha), which held the court‑mandated substituted value in an SBI fixed deposit under Section 8(8) of the PMLA.
- ED’s probe pegged total proceeds of crime in the Cox & Kings case at about ₹4,100 crore, with ₹1,066 crore traced to V Hotels and ₹520.80 crore previously attached and confirmed by the Adjudicating Authority.
- V Hotels entered insolvency, the NCLT approved Macrotech as the Successful Resolution Applicant in April 2024, and the Supreme Court on July 2, 2025 directed a ₹520.80 crore deposit in lieu of attached properties.
- The ED consented to restitution under PMLA Section 8(8) read with IBC Section 32A on the condition that the SRA had no links to CKL’s erstwhile management or beneficiaries of the alleged proceeds of crime.
- The Supreme Court recorded appreciation for ED’s efforts, and the agency said it will continue pursuing confiscation and prosecution in the broader case.