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The Economic Times

Economy / The Economic Times

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NCLT approves Shree Naman's Rs 1,800 cr bid for Gstaad, Neo Hotels

The bankruptcy court in Mumbai has greenlit Shree Naman Developers' ambitious acquisition valued at 1,800 crore for two hotel establishments. This comprehensive plan allocates 1,611 crore to Gstaad Hotels and 189 crore to Neo Capricorn Plaza, significantly surpassing the total admitted liabilities of around 1,227 crore. The resolution aims to maintain the corporate entities as ongoing operations, reflecting Shree Naman Developers' robust strategy of acquiring distressed businesses via insolvency procedures.

7 Sep 2026 12:23 am