Supreme Court Reviews Hyatt Regency Hotel Valuation in Bank Settlement Deals

The Supreme Court is reviewing the valuation of Delhi's Hyatt Regency Hotel in one-time settlement deals between Asian Hotels (North) Pvt Ltd and two public sector banks, Punjab National Bank and Bank of Maharashtra. The court emphasized the need for transparency and public interest, noting concerns that the banks bypassed mandatory auction procedures despite stressed loans exceeding ₹100 crore. The Centre cited pandemic-related challenges affecting repayments, while the hotel owner highlighted its non-performing asset status during Covid-19. Notices have been issued to involved parties for responses.