In a significant development for Lodha Developers Limited (LDL), the Supreme Court of India has issued an order favoring the real estate company in its ongoing case involving V Hotels Limited (VHL). The apex court's decision marks a crucial turning point in the resolution process of VHL.

Key Highlights of the Supreme Court Order

• Refund Amount: The Supreme Court has ordered the restitution of ₹520.80 crore to Lodha Developers Limited.
• Additional Benefit: The refund will include accrued interest on the deposited amount.
• Original Purpose: This sum was initially deposited by LDL as security against claims on V Hotels Limited.
• Affirmation of Status: The order confirms Lodha Developers' position as a successful Resolution Applicant for VHL.

Implications of the Court's Decision

1. Removal of ED's Rights: The Enforcement Directorate (ED) will no longer have any rights or lien against V Hotels' properties.
2. Legitimacy of Interest: The court has recognized LDL's legitimate interest in VHL's property.
3. Resolution Process: This decision may streamline the resolution process for V Hotels Limited.

Financial Context

To provide context on Lodha Developers' financial position, here's a snapshot of key financial metrics based on their recent consolidated balance sheet:

Conclusion

This Supreme Court order represents a significant development for Lodha Developers Limited in its dealings with V Hotels Limited. The refund of ₹520.80 crore, along with accrued interest, not only affects LDL's financial position but also validates its role in the resolution process of VHL. As the real estate sector continues to evolve, this decision may have implications for similar cases in the future, potentially influencing the landscape of corporate resolutions and property disputes in India.

Lodha Developers Limited , a prominent real estate company, has successfully raised ₹250 crore through the allotment of non-convertible debentures (NCDs) on a private placement basis. The company's Executive Committee of the Board of Directors approved this financial move on November 13, 2025, marking a significant step in its capital raising efforts.

Key Details of the NCD Issuance

Notable Features

The NCDs come with several noteworthy characteristics:

1. Secured Nature: The debentures are backed by a first ranking charge over specific company assets, providing an additional layer of security for investors.

2. Quarterly Interest Payments: Interest will be paid on a quarterly basis, with the first payment scheduled for December 31, 2025.

3. Market-Linked Interest Rate: The interest rate is linked to the 3-Month Treasury Bill rate, potentially allowing for adjustments based on market conditions.

4. Default Interest Provision: In case of payment delays exceeding three months, a default interest of 2% per annum above the applicable rate will be charged.

Implications and Outlook

This successful NCD issuance demonstrates Lodha Developers' ability to attract institutional investment and diversify its funding sources. The raised capital could potentially be utilized for various purposes such as debt refinancing, working capital requirements, or funding ongoing and future real estate projects.

For investors, these NCDs offer a fixed-income investment opportunity in one of India's leading real estate developers, with the added security of asset-backed debentures and a competitive interest rate.

As the real estate sector continues to evolve, such financial instruments play a crucial role in providing developers with the necessary capital to drive growth and execute their project pipelines.

Lodha Developers' move to raise funds through NCDs reflects the ongoing trend in the real estate sector of tapping into debt markets for capital, highlighting the importance of diverse funding avenues in the current economic landscape.