Business · Companies · 7 hrs ago
Lenders approve Supreme Housing's ₹522-crore settlement offer
Lenders approved a ₹522-crore settlement offer from real estate company Supreme Housing and Hospitality to resolve claims of nearly ₹700 crore.
The deal covers claims from Canara Bank and other lenders, including State Bank of India, Punjab National Bank and Indian Bank.
Canara Bank is expected to receive about ₹475 crore, against the ₹593 crore the company owes it.
Across all the banks, the settlement would recover just under 75% of their claims.
The offer also covers guarantees linked to two subsidiaries, Supreme Infrastructure and Supreme Ahmednagar Karmala Tembhurni Tollways.
The lenders’ approval is not the final step: the offer must now go to the National Company Law Tribunal, or NCLT, for approval.
The company says that after the settlement is implemented, creditors will issue no-dues certificates and the settled claims will be closed.
Lenders led by Canara Bank approved Supreme Housing and Hospitality’s ₹522-crore one-time settlement offer with a 95% vote.
The offer could settle the company’s dues of close to ₹700 crore, with recovery just short of 75% for all banks involved.
About ₹475 crore of the settlement will go to Canara Bank, which has the company’s only fund-based exposure.
The offer covers fund and non-fund claims, including exposure through guarantees for two subsidiaries.
The settlement will be submitted to the National Company Law Tribunal for approval.
- Who
- Supreme Housing and Hospitality and lenders led by Canara Bank.
- What
- Lenders approved a ₹522-crore one-time settlement offer to settle the company’s dues.
- When
- Lenders approved the offer by November 3, 2026; the company had deposited ₹200 crore in July 2026.
- Where
- Not stated.
- Why
- The offer is intended to settle the company’s legacy debt and lender claims.
This story does not have two clearly opposing sides.
Supreme Housing and Hospitality deposited ₹200 crore, after which the one-time settlement process was initiated.
Lenders approved the ₹522-crore settlement offer with a 95% vote.
The offer is to be put before the National Company Law Tribunal for approval.
- Settlement offer
- ₹522 crore
- Lender approval
- 95% vote
- Company dues
- Close to ₹700 crore
- Canara Bank’s settlement share
- About ₹475 crore
- Canara Bank’s exposure to SHH
- ₹593 crore
- Initial deposit
- ₹200 crore in July 2026
What people are saying
The resolution addresses entire legacy debt, marking a major milestone in the company's financial restructuring...following implementation, the company received full and final no dues certificates from the respective creditors, confirming closure of their settled claims under the scheme
Lenders have voted for this offer from the corporate debtor and the same will now be put before the NCLT for approval. Besides Canara, the other banks gaining from this settlement include State Bank of India, Punjab National Bank, Indian Bank, Union Bank of India and Bank of India. This offer settles fund and non fund based claims from lenders