NCLT Upholds ₹919 Crore Resolution Plan for Hotel Horizon

The National Company Law Tribunal (NCLT) has decided to support a plan to save Hotel Horizon, a company in financial trouble.

The plan, worth ₹919 crore, was approved by the creditors of the hotel.

The hotel's former owners, called promoters, tried to stop this plan, saying it was unfair and that the hotel was worth more.

They also said that some people involved in making the decision had conflicts of interest.

However, the NCLT said that the decision was made properly and fairly, and that the promoters' arguments were not strong enough to change the plan.

The NCLT also said that the creditors' decision is very important and should not be changed unless there is a clear problem.