Case Details

Case Name: In the matter of Scheme of Arrangement of InterGlobe Hotels Private Limited and others

Court/Authority: National Company Law Tribunal Chandigarh Bench (Court-II), Chandigarh

Case Number: CA (CAA) No. 8/Chd/Hry/2026 (1st Motion)

Order Date: 22 May 2026

Bench: Mr. Kaushalendra Kumar Singh, Member (Technical) and Mr. Khetrabasi Biswal, Member (Judicial)

Parties Involved

Petitioners/Applicant Companies:

1. InterGlobe Hotels Private Limited (Amalgamated Company/Applicant No. 1) - CIN: U55101HR2004PTC138056

2. Caddie Hotels Private Limited (Amalgamating Company 1/Applicant No. 2) - CIN: U55101HR2008PTC138814

3. Srilanand Mansions Private Limited (Amalgamating Company 2/Applicant No. 3) - CIN: U70102HR2005PTC139070

4. Techpark Hotels Private Limited (Amalgamating Company 3/Applicant No. 4) - CIN: U74899HR2006PTC138813

5. Accent Hotels Private Limited (Amalgamating Company 4/Applicant No. 5) - CIN: U55101HR2008PTC139004

6. AAPC India Hotel Management Private Limited (Amalgamating Company 5/Applicant No. 6) - CIN: U55101HR2004PTC138347

7. Triguna Hospitality Ventures (India) Private Limited (Amalgamating Company 6/Applicant No. 7) - CIN: U55101HR2010PTC138963

Legal Representation: Mr. Rohit Khanna, Adv; Mr. Divyam Agarwal, Adv; Mr. Raghav Kapoor, Adv; Mr. Aniket Aggarwal, Adv; Ms. Kavya Jha, Adv

Issues / Allegations / Violations

Application filed under Sections 230-232 of Companies Act, 2013 read with Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 seeking:

  • Dispensing with requirement of convening meetings of equity shareholders of all Applicant Companies (100% consent obtained)
  • Dispensing with requirement of convening meetings of preference shareholders of Applicant Company 1, 3 and 5 (100% consent obtained)
  • Dispensing with requirement of convening meetings of secured creditors of Applicant Company 1, 2, 3 and 5 (100% consent obtained)
  • Dispensing with requirement of convening meetings of unsecured creditors of Applicant Company 1, 2, 3, 4, 5 and 6 (consent ranging from 93.76% to 100% obtained)

Findings & Observations

  • All Applicant Companies have obtained necessary consents from shareholders and creditors as required under law
  • No pending proceedings, inquiry or investigation under Sections 206 to 229 of Companies Act against any Applicant Company
  • Companies are not governed by any specific sectoral regulator
  • Scheme does not involve any corporate debt restructuring or arrangement with creditors
  • The reduction of share capital does not involve diminution of liability in respect of unpaid share capital or payment to any shareholder

Penalties / Settlements / Directions

Tribunal Directions for Applicant Company 1:

  • Meeting of equity shareholders dispensed with (100% consent)
  • Meeting of preference shareholders dispensed with (100% consent)
  • Meeting of secured creditors dispensed with (100% consent)
  • Meeting of unsecured creditors dispensed with (93.76% consent)

Applicant Company 2:

  • Meeting of equity shareholders dispensed with (100% consent)
  • No preference shareholders exist
  • Meeting of secured creditors dispensed with (100% consent)
  • Meeting of unsecured creditors dispensed with (94.57% consent)

Applicant Company 3:

  • Meeting of equity shareholders dispensed with (100% consent)
  • Meeting of preference shareholders dispensed with (100% consent)
  • Meeting of secured creditors dispensed with (100% consent)
  • Meeting of unsecured creditors dispensed with (96.17% consent)

Applicant Company 4:

  • Meeting of equity shareholders dispensed with (100% consent)
  • No preference shareholders exist
  • No secured creditors exist
  • Meeting of unsecured creditors dispensed with (99.39% consent)

Applicant Company 5:

  • Meeting of equity shareholders dispensed with (100% consent)
  • Meeting of preference shareholders dispensed with (100% consent)
  • Meeting of secured creditors dispensed with (100% consent)
  • Meeting of unsecured creditors dispensed with (100% consent)

Applicant Company 6:

  • Meeting of equity shareholders dispensed with (100% consent)
  • No preference shareholders exist
  • No secured creditors exist
  • Meeting of unsecured creditor dispensed with (100% consent)

Applicant Company 7:

  • Meeting of equity shareholders dispensed with (100% consent)
  • No preference shareholders exist
  • No secured creditors exist
  • No unsecured creditors exist

Corrective Actions & Future Obligations

  • Appointed Date for the Scheme: 01 April 2025
  • Scheme takes care of interests of staff/workers and employees by virtue of Clause 5 of Part B and Clause 15 of Part C
  • All pending legal proceedings by or against Amalgamating Companies shall be continued by or against Amalgamated Company
  • Accounting treatment in the scheme is in conformity with Section 133 of Companies Act, 2013 as certified by statutory auditors

Final Ruling & Enforcement

  • First Motion Company Application CA (CAA) No.8/Chd/Hry/2026 allowed and disposed of
  • Liberty granted to Applicant Companies to file Second Motion Petition
  • Copy of Order to be supplied to learned Counsel for Applicant Companies
  • The Scheme provides for amalgamation of Applicant Companies 2-6 with Applicant Company 1 and dissolution without winding up
  • Amalgamation of Applicant Company 7 with Applicant Company 1 and dissolution without winding up
  • Cancellation of equity share capital held by Applicant Company No. 7 in Applicant Company No. 1 upon Effective Date 2