{
  "id": 6157377,
  "title": "Mumbai NCLT Approves ₹1,611-Crore Resolution Plan For Gstaad Hotels; Rejects Suspended Promoters’ Objections",
  "url": "https://urgent.news/2026/09/07/mumbai-nclt-approves-1-611-crore-resolution-plan-for-gstaad-hotels",
  "topic": "world",
  "section": "World",
  "published": "2026-09-07T18:25:56.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/mumbai/mumbai-nclt-approves-1611-crore-resolution-plan-for-gstaad-hotels-rejects-suspended-promoters-objections"
  },
  "original_language": "en",
  "account": "On September 7, 2026, the Mumbai Bench-I of the National Company Law Tribunal (NCLT) approved a ₹1,611-crore resolution plan for Gstaad Hotels Private Limited, allowing for the company's revival. The resolution plan, submitted by Shree Naman Developers Private Limited, was approved with 98.96% voting support from the Committee of Creditors (CoC).\n\nThe plan provides for a total resolution consideration of ₹1,611 crore, significantly above the company's average liquidation value of ₹1,028.33 crore determined by two registered valuers. The NCLT found that the higher resolution amount demonstrates that the plan is commercially more beneficial than liquidation, maximizing value for stakeholders.\n\nHowever, the approval faced objections from suspended directors Deepak B. Raheja and Anita D. Raheja, who alleged issues with claim verification and treatment of financial interests. Despite these objections, the NCLT rejected them, stating it lacks jurisdiction to interfere with the CoC's commercial decision-making. The resolution applicant, Shree Naman Developers, is required to secure necessary approvals within the stipulated period.",
  "summary": "Mumbai, September 7, 2026: The Mumbai Bench-I of the National Company Law Tribunal (NCLT) has approved a Rs 1,611-crore resolution plan for Gstaad Hotels Private Limited, paving the way for the revival of the hospitality company under a plan submitted by Shree Naman Developers Private Limited. The order was pronounced on September 3, 2026, by the bench comprising judicial member Sushil Mahadeorao…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}