NCLT excludes Phoenix ARC from Committee of Creditors in Hotel Horizon case

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The NCLT partially approved Hotel Horizon's promoters' plea, excluding Phoenix ARC's claim from the CIRP due to limitation. Oberoi Realty's consortium secured CoC approval to acquire the company for Rs 919 crore. The tribunal instructed a claim rework for JMFARC and directed reverification of UBI's claims, while CFM ARC appeals the Phoenix ARC decision.