Oberoi Realty, along with Shree Naman Developers and JM Financial Properties, received an NCLT extension to pay ₹919.25 crore for the acquisition of Hotel Horizon Private Ltd. The extra time, up to May 7, 2026, was granted because the former promoters have withheld physical possession of Hotel Horizon Private Ltd's assets, including properties in Juhu, Mumbai. The resolution plan covers full settlement of creditor claims and 100% equity ownership.

Oberoi Realty granted May 7 extension for ₹919

Oberoi Realty granted May 7 extension for ₹919-crore Hotel Horizon payment

The extension comes after the erstwhile promoters unlawfully withheld possession of Hotel Horizon Private's assets, including immovable properties in Juhu, Mumbai, setting a new payment deadline of May 7, 2026. Shares of Oberoi Realty Ltd ended at ₹1,446.85, up by ₹1.60, or 0.11%, on the BSE today, March 20.

Real estate firm Oberoi Realty Ltd on Friday (March 20) said the company, along with Shree Naman Developers and JM Financial Properties, has been granted an extension by the National Company Law Tribunal (NCLT) Mumbai to pay ₹919.25 crore for the acquisition of Hotel Horizon Private Ltd (HHPL).

The NCLT-approved resolution plan, sanctioned in January 2026, includes ₹1 crore for 100% equity ownership of HHPL and full settlement of all creditor claims, including unpaid CIRP costs. Any additional amounts required under applicable laws will also be covered by the consortium.

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A monitoring committee, comprising two representatives each from the consortium and the Committee of Creditors, along with the resolution professional, is overseeing the implementation of the resolution plan and managing HHPL’s operations until the transfer date.

Despite repeated directions from the NCLT, physical possession of Hotel Horizon Private's assets remained withheld by the former promoters. The consortium requested additional time to complete the resolution payment in light of these circumstances, which the NCLT approved on March 16, 2026, granting 45 extra days from one week after the order.

Shares of Oberoi Realty Ltd ended at ₹1,446.85, up by ₹1.60, or 0.11%, on the BSE today, March 20.

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(Edited by : Shoma Bhattacharjee )