NCLAT to Hear Challenge Against Oberoi Realty’s Rs 919 Crore Bid

• NCLAT admits appeal against Oberoi Realty’s Rs 919 crore bid for Hotel Horizon

• NCLT had earlier approved the consortium’s resolution plan

• Tribunal orders status quo on equity creation until next hearing

The National Company Law Appellate Tribunal (NCLAT) will hear a challenge to Oberoi Realty’s Rs 919 crore bid for Hotel Horizon, after admitting an appeal filed against the earlier approval granted by the National Company Law Tribunal (NCLT).

The development comes after the Mumbai bench of the NCLT, on January 29, approved a resolution plan submitted by a consortium led by Oberoi Realty, along with Shree Aman Developers and JM Financial Properties and Holdings. The plan proposed an investment of Rs 919 crore for Hotel Horizon.

However, the approval has now been contested before the NCLAT by the former promoters and suspended board of Hotel Horizon, who have sought a review of the NCLT’s decision.

Interim Relief Granted

A two-member principal bench of the NCLAT in Delhi, comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra, admitted the appeal and passed an interim order. The tribunal directed that no equity be created in favour of the successful resolution applicants until the matter is heard in detail.

The bench observed that the present appeal needs to be heard along with other connected appeals. The matter has now been listed for February 25, 2026.

Why Hotel Horizon Matters

Hotel Horizon owns a prime land parcel of approximately 7,500 square metres in Mumbai’s upscale Juhu locality. With direct sea-facing views, the property is considered strategically valuable and holds strong redevelopment potential, making Oberoi Realty’s Rs 919 crore bid for Hotel Horizon a closely watched transaction in the real estate and insolvency space.

Industry observers note that projects involving premium coastal assets often attract legal scrutiny due to their high commercial value. The final outcome of the NCLAT proceedings will determine whether Oberoi Realty’s Rs 919 crore bid for Hotel Horizon proceeds as planned or undergoes modifications.

The next hearing on February 25, 2026, is expected to provide greater clarity on the future of the high-profile resolution process.