This intra-court appeal was filed by Deepak Raheja and Anita Raheja, Directors of the Suspended Board of GSTAAD Hotels Pvt. Ltd. and GSTAAD Hotels Pvt. Ltd., challenging the order dated 28.02.2024 passed by the learned Single Judge in WP No.6037/2023, which dismissed the writ petition filed by GSTAAD Hotels Pvt. Ltd.
Piramal Enterprises Limited sanctioned a loan of Rs.450 Crores to GSTAAD Hotels Pvt. Ltd. in addition to a revolving credit facility of Rs.50 Crores.
A loan agreement dated 26.12.2017 was executed.
GSTAAD Hotels Pvt. Ltd. is in the hospitality business and operates a 5-Star Hotel known as JW Marriott.
Due to COVID-19, GSTAAD Hotels Pvt. Ltd. faced difficulties, leading to the launch of Guaranteed Emergency Credit Line (GECL) and Emergency Credit Line Guarantee Scheme (ECLGS).
On 27.12.2022, the loan account of GSTAAD Hotels Pvt. Ltd. was assigned by Piramal Enterprises to Omkara Assets Reconstruction Private Limited.
On 15.02.2023, Omkara issued a notice to recall the main facility loan and the loans granted under the ECLGS scheme.
…Sign in to view the parties.
The judgmen…
Order passed by the Ld.…
This intra-court appeal was filed by Deepak Raheja and Anita Raheja, Directors of the Suspended Board of GSTAAD Hotels Pvt. Ltd. and GSTAAD Hotels Pvt. Ltd., challenging the order dated 28.02.2024 passed by the learned Single Judge in WP No.6037/2023, which dismissed the writ petition filed by GSTAAD Hotels Pvt. Ltd.
Piramal Enterprises Limited sanctioned a loan of Rs.450 Crores to GSTAAD Hotels Pvt. Ltd. in addition to a revolving credit facility of Rs.50 Crores.
A loan agreement dated 26.12.2017 was executed.
GSTAAD Hotels Pvt. Ltd. is in the hospitality business and operates a 5-Star Hotel known as JW Marriott.
Due to COVID-19, GSTAAD Hotels Pvt. Ltd. faced difficulties, leading to the launch of Guaranteed Emergency Credit Line (GECL) and Emergency Credit Line Guarantee Scheme (ECLGS).
On 27.12.2022, the loan account of GSTAAD Hotels Pvt. Ltd. was assigned by Piramal Enterprises to Omkara Assets Reconstruction Private Limited.
On 15.02.2023, Omkara issued a notice to recall the main facility loan and the loans granted under the ECLGS scheme.
…The judgmen…
Order passed by the Ld.…