Recovery Officer directs IFCI to remit Rs 85 crore to Lodha Committee

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prior close

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AI summary

Recovery Officer attached to Justice R.M. Lodha Committee ordered IFCI to remit Rs 85 crore plus interest from the auction proceeds of Blue Coast Hotels Park Hyatt Goa property to the Committee, instead of refunding it to the company. Order dated 10 Nov 2025, subject to Bombay High Court case (W.P. 924 of 2018) outcome. No penalty imposed. Company is exploring legal remedies to challenge the order.

Likely market impact

Rs 85 cr from Park Hyatt Goa auction may go to Lodha Committee, not to the company. Firm is challenging the order; pending High Court case.