Oberoi Realty Consortium Secures Letter of Intent for Hotel Horizon with Rs 919 Crore Resolution Plan
Oberoi Realty, in collaboration with Shree Naman Developers and JM Financial Properties and Holdings, has secured a Letter of Intent (LOI) for the acquisition of Hotel Horizon Private Limited (HHPL). The resolution plan, approved by the Committee of Creditors (CoC), involves a total payment of Rs 919 crore for full ownership.
Real EstateAcquisitionHotel HorizonResolution PlanNcltReal Estate NewsJul 15, 2025
In a regulatory filing, the company stated that the resolution plan involves a total payment of Rs 919 crore, along with any additional statutory payments, for the full and final settlement of outstanding claims and unpaid Corporate Insolvency Resolution Process (CIRP) costs. The payment is to be made within 45 days from the date of approval by the National Company Law Tribunal (NCLT), Mumbai Bench.
The resolution plan provides for the payment of Rs 919 crore (and any additional amounts required to comply with applicable laws) to various creditors in full and final settlement of their outstanding claims against HHPL, including the unpaid CIRP costs. The payment is to be made on the Payment Date, which is not later than 45 days from the date on which the resolution plan is approved by the Hon’ble National Company Law Tribunal (NCLT).
HHPL holds a prime piece of land measuring around 7,500 square metres, overlooking the Arabian Sea and situated at Juhu, Mumbai. The acquisition will be executed either directly by the consortium or through a special purpose vehicle (SPV) to be formed. Under the resolution plan, the consortium or SPV will subscribe to Rs 1 crore of fresh shares of HHPL for a 100 per cent ownership of HHPL.
Shares of Oberoi Realty were up 1.08 per cent today at 10:30 am, trading at Rs 1,824.00. This acquisition is expected to bolster Oberoi Realty’s portfolio and strengthen its presence in the premium real estate market in Mumbai.
Frequently Asked Questions
What is the total amount involved in the resolution plan for Hotel Horizon?
The total amount involved in the resolution plan for Hotel Horizon is Rs 919 crore, along with any additional statutory payments.
Who are the members of the consortium that submitted the resolution plan?
The consortium that submitted the resolution plan for Hotel Horizon consists of Oberoi Realty, Shree Naman Developers, and JM Financial Properties and Holdings.
When will the payment be made to the creditors of Hotel Horizon?
The payment to the creditors of Hotel Horizon will be made within 45 days from the date of approval by the National Company Law Tribunal (NCLT), Mumbai Bench.
What is the size of the land owned by Hotel Horizon in Juhu, Mumbai?
Hotel Horizon owns a prime piece of land measuring around 7,500 square metres, overlooking the Arabian Sea in Juhu, Mumbai.
How will the acquisition be executed, and what will be the ownership structure?
The acquisition will be executed either directly by the consortium or through a special purpose vehicle (SPV) to be formed. The consortium or SPV will subscribe to Rs 1 crore of fresh shares of HHPL for a 100 per cent ownership of HHPL.
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