Chennai

NCLAT stays bid to takeover city hotel

The National Company Law Appellate Tribunal (NCLAT), Chennai, has stayed the Rs 423 crore takeover bid of Appu Hotels, by MGM Healthcare owner MK Rajagopalan.

migrator

Chennai

Appu Hotels, belonging to Palani G Periasamy, operates the well-known Le Meridian brand in Chennai. The NCLAT order dated 30 July 2021, by Justice M Venugopal - Member (Judicial) and VP Singh, Member (Technical), was on an application by Periasamy Palani Gounder (appellant), promoter and former director of Appu Hotels. The NCLAT gave a stay order against the approval of the National Company Law Tribunal.

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