NCLAT to Hear Appeal Against Oberoi Realty's Rs 919 Crore Bid for Hotel Horizon

The National Company Law Appellate Tribunal (NCLAT) is set to hear an appeal challenging the approval of a Rs 919 crore bid by an Oberoi Realty-led consortium for Hotel Horizon. The promoters argue the bid was based on inflated financial claims and are contesting the tribunal's prior decisions.

The National Company Law Appellate Tribunal (NCLAT) is preparing to hear an appeal against an NCLT order that approved a Rs 919 crore bid for Hotel Horizon, led by a consortium headed by Oberoi Realty. The appeal was filed by the former promoters of the hotel, challenging the resolution plan.

A two-member bench at the principal bench in Delhi, presided over by Chairperson Justice Ashok Bhushan and Member (Technical) Barun Mitra, has acknowledged the appeal and mandated that no equity be established in favor of the successful bidders until the appeal is resolved. The appeal will be heard alongside other pending appeals on February 25, 2026.

The promoters are also questioning the actions of the Resolution Professional for ignoring a previous order which reduced the reported loan amount. The outcome of this appeal could impact the future development prospects of Hotel Horizon's valuable sea-facing land in Mumbai.

(With inputs from agencies.)