Mumbai-based real estate company Supreme Housing and Hospitality (SHH) has secured approval from a consortium of lenders for a ₹522-crore one-time settlement (OTS), bringing it closer to resolving legacy liabilities of nearly ₹700 crore. The proposal, approved with a 95% lender vote, is expected to deliver a recovery of just under 75% to the participating banks, following years of insolvency proceedings and unsuccessful settlement attempts.
Supreme Housing’s ₹522 Crore Settlement And What Lenders Stand To Recover
The latest settlement proposal covers both fund-based and non-fund-based liabilities of Supreme Housing, including obligations arising from corporate guarantees issued in favour of its subsidiary companies. The…