The National Company Law Tribunal has approved the acquisition of Hotel Horizon by a consortium including Oberoi Realty. This follows the company’s admission of liabilities. The successful bidder’s plan offers a significant recovery for lenders. However, the NCLT order has been challenged at the NCLAT, which has put a stay on further actions pending its final ruling.The National Company Law Tribunal has approved the acquisition of Hotel Horizon by a consortium including Oberoi Realty. This follows the company’s admission of liabilities. The successful bidder’s plan offers a significant recovery for lenders. However, the NCLT order has been challenged at the NCLAT, which has put a stay on further actions pending its final ruling.
NCLT clears Hotel Horizon resolution; NCLAT bars equity creation for now
