Kolkata's Taj Gateway Hotel ends up at NCLT over non-repayment of loans

Edelweiss took Jalan Intercontinental to NCLT in August 2017, with a total claim of about Rs 1.27 billion

The Gateway, a 197-room Kolkata hotel managed by the Taj Group for over four years, has ended up at the National Company Law Tribunal (NCLT), having failed to repay its loans. Edelweiss ARC has taken the owner, Jalan Intercontinental Hotels, to NCLT to recover its dues. A round of bidding for the asset has taken place at the NCLT but the bids received are learnt to be lower than the liquidation value.
 

Launched in December 2013, this was the first Gateway hotel in Kolkata and the second Taj hotel in West Bengal after a gap of 24 years. Its first