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The National Company Law Tribunal’s Amaravati Bench has approved the resolution plan submitted by Capri Global Holdings Pvt Ltd for SevenHills Healthcare Pvt Ltd under the Insolvency and Bankruptcy Code (IBC). The plan, backed by Reliance Strategic Business Ventures Ltd as equity support provider, relates to the resolution of the Mumbai hospital asset of SevenHills Healthcare. The insolvency proceedings, initiated in 2018 following a petition by Axis Bank, became one of India’s longest-running healthcare insolvency cases due to multiple legal disputes involving lenders, the Municipal Corporation of Greater Mumbai (MCGM) and ownership rights over the hospital land. The approval marks the conclusion of a category-wise resolution process undertaken for the company’s healthcare assets in Mumbai and Visakhapatnam.
The National Company Law Tribunal (NCLT), Amaravati Bench, has approved the resolution plan submitted by Capri Global Holdings Pvt Ltd for SevenHills Healthcare Pvt Ltd, concluding a prolonged insolvency resolution process involving the healthcare company’s Mumbai hospital operations. Advertisement
According to the tribunal order dated 19 January 2026, the resolution plan was approved under Sections 30(6) and 31(1) of the Insolvency and Bankruptcy Code, 2016, following an application filed by the resolution professional, Abhilash Lal. Reliance Strategic Business Ventures Ltd, a subsidiary of Reliance Industries Ltd, has been designated as the equity support provider for the approved plan.
SevenHills Healthcare entered the corporate insolvency resolution process in March 2018 after Axis Bank initiated proceedings against the company for loan defaults. The company operated major healthcare facilities in Mumbai and Visakhapatnam and the matter subsequently emerged as one of the country’s most closely watched healthcare insolvency cases due to its scale, lender exposure and litigation involving public land ownership.
The Mumbai hospital project was constructed on land owned by the Municipal Corporation of Greater Mumbai (MCGM) under a public-private partnership framework. Legal disputes arose after questions were raised regarding mortgage creation and lender security rights over municipal land without prior civic approval. The matter reached the Supreme Court, which held that mandatory no-objection permissions under the Mumbai Municipal Corporation Act were required before creation of security interests over the land parcel.
Following litigation and delays, the Committee of Creditors and resolution professional adopted a category-wise resolution strategy under Regulation 36B(6A) of the IBBI regulations, separating the Visakhapatnam and Mumbai hospital assets for resolution purposes. The Visakhapatnam hospital resolution plan received tribunal approval in June 2024, while the Mumbai hospital resolution process continued separately.
According to legal and regulatory disclosures, MCGM granted the required no-objection certificate for the Mumbai hospital resolution plan in December 2025. The Capri Global resolution plan subsequently received 100% approval from the Committee of Creditors before being placed before the tribunal for final approval.
Legal advisors involved in the process stated that the matter represented one of the first large-scale category-wise healthcare insolvency resolutions implemented under the IBC framework. The process involved multiple proceedings before the NCLT, National Company Law Appellate Tribunal and the Supreme Court over several years.
Source: NCLT
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