Shardul Amarchand Mangaldas (SAM) and Khaitan & Co advised on Hotel Horizon’s INR 920 crore acquisition following  approval of Resolution Plan by the National Company Law Tribunal.

Hotel Horizon Private Limited (HHPL) has undergone a corporate insolvency resolution process culminating in the implementation of a resolution plan submitted by a consortium comprising Oberoi Realty, Shree Naman Developers and JM Financial Properties & Holdings.

The acquisition was implemented pursuant to an NCLT-approved resolution plan for a total consideration of INR 920 crores.

The CIRP involved multiple litigations initiated by the suspended directors across various judicial forums, including proceedings relating to cooperation obligations, disclosures and possession of hotel premises.

Shardul Amarchand Mangaldas (SAM) advised the Resolution Professional of Hotel Horizon Private Limited throughout the corporate insolvency resolution process and thereafter in his role as Interim Manager during implementation of the resolution plan.

The Transaction and CIRP Advisory Team was led by National Practice Head (Restructuring and Insolvency) Anoop Rawat and Partner Saurav Panda, along with Principal Associates Shreyas Gupta and Aditya Marwah; and Associates Snigdha Saraff and Aditi Roy.

The Litigation Team was led by National Practice Head (Restructuring and Insolvency) Anoop Rawat, Partners Ameya Gokhale, Saurav Panda, Vaijayant Paliwal and Rishabh Jaisani, along with Principal Associates Aditya Marwah, Kriti Kalyani and Nikhil Mathur; and Associates Snigdha Saraff, Shruti Poddar, Ansh Kumar and Aditi Roy.

Khaitan & Co advised the consortium comprising Oberoi Realty, Shree Naman Developers Private Limited and JM Financial Properties & Holdings Limited on the implementation of the NCLT-approved resolution plan and acquisition of Hotel Horizon.

The deal team consisted of Kumar Saurabh Singh, Harsh Parikh, Vishnu Shriram, Ashwij Ramaiah and Aaryan Mohan, with assistance from Diwakar Maheshwari (Litigation).