Real estate firm, Oberoi Realty Limited, on Monday (July 14), has announced that the Committee of Creditors (CoC) of Hotel Horizon Private Limited (HHPL) has approved the resolution plan submitted by a consortium comprising Oberoi Realty, Shree Naman Developers, and JM Financial Properties and Holdings.

The approval was granted on July 14, 2025, and the Resolution Professional has issued a Letter of Intent (LOI) confirming the consortium as the Successful Resolution Applicant.

The approved resolution plan involves a total payment of ₹919 crore, along with any additional statutory payments, for full and final settlement of outstanding claims and unpaid Corporate Insolvency Resolution Process (CIRP) costs. The payment is to be made within 45 days from the date of approval by the National Company Law Tribunal (NCLT), Mumbai Bench.

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Hotel Horizon Private Limited owns a prime 7,500 square metre land parcel overlooking the Arabian Sea in Juhu, Mumbai. The acquisition aligns with Oberoi Realty’s core business strategy and will be executed either directly by the consortium or through a special purpose vehicle (SPV) to be formed.

Under the resolution plan, the consortium or SPV will subscribe to ₹1 crore worth of fresh shares, thereby acquiring 100% ownership and control of HHPL, subject to necessary regulatory and NCLT approvals.

Shares of Oberoi Realty Ltd ended at ₹1,804.55, down by ₹30.95, or 1.69%, on the BSE.

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