The
National Company Law Appellate Tribunal (
NCLAT) has set aside hospitality major
EIH Ltd‘s petition against an
NCLT order approving the sale of Hyderabad-based
Golden Jubilee Hotels. The appellate tribunal upheld the earlier decision of the National Company Law Tribunal (NCLT), allowing the bid of a
Singapore-based entity and said the business decision by the majority of the CoC (
Committee of Creditors) “cannot be questioned or looked into”.
“This recent judgment leaves no doubt about reinforced faith in commercial wisdom of CoC and little scope of any judicial intervention,” said a two-member bench of the NCLAT.
Earlier, the Hyderabad Bench of NCLT had approved the bids of Singapore-based BREP Asia II Indian Holding Co II (NQ) PTE…
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