Anirudh Agro Gets NCLAT Nod To Acquire Viceroy Hotels
The resolution plan of Hyderabad-based Anirudh Agro Farms Limited (‘Anirudh Agro’) to acquire Viceroy Hotels Limited (‘Viceroy’) for a total consideration amount of over Rs.150 crores has been approved by National Company Law Appellate Tribunal (‘NCLAT’) on October 6, 2023. Anirudh Agro has infused the requisite funds into Viceroy Hotels, as required for the implementation of the Resolution Plan, as approved by the NCLAT order. Through this acquisition, Anirudh Agro has forayed into the fast-growing hospitality space and aiming to add more hotels over the next few years. Viceroy has two hotels in Hyderabad, operated by Mariott Group under the brands - Courtyard and Marriott on a 4.5-acre freehold land with over 400 rooms.
Tags : Anirudh Agro NCLAT Viceroy Hotels Resolution Plan acquisition Mariott Group