Mumbai, Jan 31: The National Company Law Tribunal (NCLT), Amaravati Special Bench, has approved the resolution plan submitted by Capri Global, which includes equity support from the Reliance Group to implement the plan for SevenHills Healthcare Pvt Ltd’s Mumbai hospital, thereby paving the way for the revival of the hospital.
Plan backed by unanimous creditor approval
The order copy states that the Committee of Creditors (CoC) had approved the Capri plan with a 100% voting share after it received a no-objection from the Municipal Corporation of Greater Mumbai (MCGM), a key requirement following earlier Supreme Court directions.
Resolution outlay detailed
The approved plan involves a total resolution outlay of about Rs 884.82 crore, plus standstill period costs. This includes Rs 456 crore towards creditor settlement, around Rs 205.34 crore towards CIRP costs (as on January 1, 2026), and Rs 223.48 crore earmarked for settlement of MCGM dues. Capri’s proposal is backed by financial support from the Reliance Group as an equity support provider.
Hospital to be restructured as not-for-profit
“A significant feature of the plan is a scheme of arrangement approved as part of the resolution. The tribunal has permitted restructuring of SevenHills Healthcare into a Section 8 not-for-profit company limited by guarantee. Surpluses generated will be mandatorily reinvested into healthcare infrastructure, with the Mumbai hospital to be operated as a socially oriented medical institution. Existing share capital will stand cancelled as part of the restructuring mechanism. The plan envisages fresh fund infusion of up to Rs 400 crore over five years for completing construction, upgrading infrastructure, and operational improvements. Bed capacity is proposed to be scaled up from about 300 beds to nearly 1,500 beds in phases, with commitments towards affordable healthcare and reserved beds for civic patients,” reads the resolution plan.
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Insolvency proceedings since 2018
SevenHills was facing insolvency since March 2018. The NCLT, in its order, held, “This Bench has carefully considered the Application filed under Sections 30(6) and 31(1) of the Insolvency and Bankruptcy Code, 2016, the Resolution Plan submitted by Capri Global Holdings Private Limited for Category-2 assets of the Corporate Debtor, the submissions of the Senior Counsels for the Resolution Professional, the Committee of Creditors and the Successful Resolution Applicant, and the material placed on record. This Bench has emphasised the limited scope of judicial review over the CoC’s commercial wisdom. It ruled that all claims not forming part of the approved resolution plan stand extinguished, granting the successful resolution applicant a ‘clean slate’, subject to statutory limitations. Certain waivers were allowed, while exemptions from stamp duty, taxes and environmental compliance were declined where beyond the tribunal’s jurisdiction.”
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