NCLAT upholds Sristi Hospitality's ₹32.41-cr insolvency sale to Amit Jatia-led consortium
The appellate tribunal rejected ex-promoters' undervaluation appeals, clearing the sale of Sristi Hospitality's prime Vile Parle, Mumbai property to a consortium including Hardcastle Restaurants' Amit Jatia, McDonald's west and south India master franchisee.
What happened
NCLAT upheld the insolvency sale of Sristi Hospitality's prime Vile Parle property to a consortium including Amit Jatia's Hardcastle Restaurants (McDonald's
Key facts
- ₹32.41 crore
- ₹76.72 crore
- ₹28 crore
Why this matters
This distressed-asset buy via insolvency shows Jatia's consortium acquiring prime real estate at resolution-plan pricing, a template worth watching for future NCLT-sourced site expansion deals.