NCLAT sets aside EIH plea against NCLT order approving sale of Golden Jubilee Hotels

NCLAT dismissed EIH's appeal against the sale of Golden Jubilee Hotels. A Singaporean company won the bid. EIH, the previous operator, argued its exclusion was unfair. The tribunal sided with the creditors' decision. The new owner has the option to retain or replace EIH. The bidder cited EIH's mismanagement as a reason for the hotel's losses.