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Informist, Thursday, Jan. 29, 2026

 

--NCLT OKs Oberoi Realty consortium's INR-9.2-bln IBC plan for Hotel Horizon

 

NEW DELHI – The Mumbai bench of the National Company Law Tribunal Thursday approved the INR 9.19-billion resolution plan of the consortium comprising Oberoi Realty Ltd., Shree Naman Developers Pvt. Ltd., and JM Financial Properties and Holdings Ltd. for Hotel Horizon Pvt. Ltd.

 

"Accordingly, this tribunal is satisfied that the resolution plan is compliant with the provisions of the (Insolvency and Bankruptcy) Code and the CIRP (Corporate Insolvency Resolution Process) Regulations, is fair and equitable to all stakeholders, and meets the objective of maximisation of value and revival of the corporate debtor as a going concern," said the tribunal. 

 

Hotel Horizon is involved in the business of construction, furnishing and carrying on the operations of hotels, restaurants, and cafes. The corporate debtor has a hotel by the name of "Hotel Horizon", located at Juhu Beach in Mumbai, which is currently non-operational.

 

In 2024, the tribunal had admitted Assets Care & Reconstruction Enterprise Ltd.'s petition to start insolvency proceedings against Hotel Horizon. The debt-ridden company had admitted dues of INR 12.94 billion. The committee of creditors of Hotel Horizon approved the consortium's resolution plan with 100?vourable votes in 2025.

 

Oberoi Realty and its subsidiary companies are primarily engaged in real estate development activity operating in the Mumbai Metropolitan Region, focussed on premium development. While the company's focus is on residential projects, it has a diversified portfolio of projects across key segments of the real estate market including residential, office space and retail developments.

 

Shree Naman Developers is the flagship company of Shree Naman Group, a renowned diversified conglomerate having presence in Mumbai and Goa. Shree Naman Developers is an established leader in the real estate industry with over two decades of experience and has developed landmark properties in Mumbai. JM Financial Properties is in the business to acquire, develop, take on exchange, lease or otherwise deal in sale of any movable or immovable property.

 

On Thursday, shares of Oberoi Realty ended 1.3% higher at INR 1,501.90 on the National Stock Exchange.  End

 

Reported by Surya Tripathi

Edited by Ashish Shirke

 

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