NCLT admits Bank of India's insolvency plea against Aman Hospitality
This story was originally published at 19:52 IST on 12 January 2026
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NEW DELHI – The Delhi bench of the National Company Law Tribunal on Monday admitted Bank of India's insolvency plea against Aman Hospitality Pvt. Ltd. for unpaid dues of INR 1.20 billion. The tribunal appointed Anup Kumar as the interim resolution professional of Aman Hospitality to carry out functions under the Insolvency and Bankruptcy Code, 2016.
Aman Hospitality, incorporated in 1992, is engaged in the real estate and hotel business. The company operated a five-star deluxe hotel in Shahdara, Delhi, under the name "The Leela Ambience Convention Hotel".
In 2010, Bank of India sanctioned a term loan of INR 1 billion to Aman Hospitality to part-finance the construction of the hotel in Shahadra. In 2011, the limit was increased, and the bank sanctioned an additional INR 380 million to Aman Hospitality.
Although the hotel began operations in 2012, Aman Hospitality failed to service its debt. To resolve this, a master joint lender forum agreement was executed in 2015 to explore the possibility of rectifying the irregularities in the company's account. Meanwhile, the bank sanctioned a funded interest term loan of INR 269.2 million to the company.
In 2018, Aman Hospitality's account was declared a non-performing asset due to non-payment to the bank. Despite repeated one-time settlement discussions, loan recall notices, and legal proceedings, including action by the Debt Recovery Tribunal, Aman Hospitality failed to discharge its liability, Bank of India said. Consequently, Bank of India moved the tribunal to start insolvency proceedings against Aman Hospitality.
Monday, shares of Bank of India ended 0.1% lower at INR 145.89 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Saji George Titus
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