NCLT approves Macrotech Developers’ resolution plan for V Hotels, ET RealEstate

April 29, 2024
1 min read
NCLT approves Macrotech Developers' resolution plan for V Hotels, ET RealEstate


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NEW DELHI: The National Company Law Tribunal (NCLT) – Mumbai Bench has approved to the resolution plan of Macrotech Developers in relation to the corporate insolvency resolution process (CIRP) of V Hotels under the Insolvency and Bankruptcy Code 2016 (IBC).

Under the resolution plan, the company will pay Rs 900 crore in tranches over a period of 270 days. The first tranche of Rs 90 crore has already been remitted.

In June 2023, the resolution professional of V Hotels had declared the company as the successful resolution applicant.

Incorporated on September 5, 2000, V Hotels has real estate assets which can be developed for residential and allied uses, the company said in the regulatory filing.

  • Published On Apr 29, 2024 at 09:12 AM IST

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