At 18:01 hours, during RIH 4” Drill pipe by lifting stands from the v-door, Elevator was latched on the drill pipe stand. While lifting drill pipe stand, it slipped through elevator and fell down on pipe cat trough from height of approximately 10 meters. The stand hit tool joint of the pipe and trough on its way down and finally rested between pipe cat trough and V-door guardrail. Immediately stopped the operation, secured the area and prepared recovery plan. No injuries and damages observed. Red zone was well managed.