M.K. Rajagopalan, MD of MGM Healthcare becomes the new owner of Le Meridien at Guindy, Chennai
He would take over Appu Hotels, which runs Le Meridien in Chennai and Coimbatore
The Chennai branch of the National Company Law Tribunal (NCLT) gave the verdict
The Tourism Finance Corporation of India Limited (TFCIL), India had filed an insolvency petition against Le Meridien
Rajagopalan put forward a bid of Rs 423 Cr to take over Appu Hotels
He would also pay 100% of dues of secured and unsecured creditors, which stand at Rs 340.43 Cr and Rs 49.13 cr respectively
