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Under the resolution plan, Macrotech Developers will pay Rs 900 crore in tranches over a period of 270 days. The first tranche of Rs 90 crore has already been remitted.
Lodha Group-owned Macrotech Developers is paying around Rs 890 crore to acquire the hotel property in Juhu, an affluent suburb in western Mumbai. The bankrupt hotel company had admitted liabilities of over Rs 2,500 crore. Financial lenders of V Hotels had in June 2023 approved Macrotechs resolution plan with all voting in its favour.
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