Oberoi Realty Consortium Wins Bid for Juhu Land Asset in ₹919 Crore Resolution Plan

15 Jul 2025 , 12:31 PM

Oberoi Realty Ltd on Monday said that the Committee of Creditors of Hotel Horizon Private Ltd (HHPL) has approved a resolution plan submitted by a consortium that includes the company, along with Shree Naman Developers and JM Financial Properties and Holdings.

The approval, granted on July 14, confirms the consortium as the Successful Resolution Applicant. A Letter of Intent (LOI) has been issued by the Resolution Professional, formally notifying the consortium of the CoC’s decision.

As part of the approved plan, the consortium will make a total payment of ₹919 crore, along with any applicable statutory dues. This will cover the full and final settlement of outstanding claims as well as unpaid costs related to the Corporate Insolvency Resolution Process (CIRP). The entire payment is to be completed within 45 days from the date the National Company Law Tribunal (NCLT), Mumbai Bench, grants its approval.

Hotel Horizon Private Ltd owns a 7,500 square metre land parcel in Juhu, Mumbai, with a sea-facing view of the Arabian Sea. The acquisition is aligned with Oberoi Realty’s long-term development strategy and will be carried out either directly by the consortium or through a special purpose vehicle (SPV) that will be created for the transaction.

According to the terms of the resolution plan, the consortium or the SPV will subscribe to fresh equity shares worth ₹1 crore, which will give them full ownership and control of HHPL, subject to regulatory clearances and NCLT approval.

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