Le Royal Meridien: NCLT approves Rs 595 cr settlement offer for Hotel Le Royal Meridien in Chennai & Coimbatore

The National Company Law Tribunal (NCLT) has approved a Rs 595 crore settlement offer from Appu Hotels' promoter, facilitating a rare instance where lenders will recover their entire dues. The settlement includes Rs 98 crore for equity holders. The tribunal directed the resolution professional to hand over the company to the existing management.

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