*THE HON’BLE THE CHIEF JUSTICE SRI APARESH KUMAR SINGH AND *THE HON’BLE SRI JUSTICE G.M.MOHIUDDIN + WRIT APPEAL No.27 of 2026 %09.04.2026 Between # Maha Hotel Projects Private Limited …Appellant vs.

$ State of Telangana and 6 others …Respondents !Counsel for the appellant :Sri Suraj Prakash, learned Counsel representing Ms.Vanaparthi Vaishali ^Counsel for respondents : Sri A.Sudarshan Reddy, learned Advocate General for the State of Telangana duly assisted by Sri I.V.Siddhivardhana, learned Special Government Pleader for respondent Nos.1 to 3 and 5.

Dr.Abhishek Manu Singhvi, learned Senior Counsel and Sri Gyanendra Kumar Seni, learned counsel representing Sri Rajesh Maddy, learned counsel for respondent No.4.

Sri N.Bhujanga Rao, learned Deputy Solicitor General of India appearing for respondent No.7 Gist :

>Head Note :

? Cases referred

1. (2018) 1 SCC 407

2. (2021) 13 SCR 737

3. AIR 1955 SC 74 IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THE HON’BLE THE CHIEF JUSTICE SRI APARESH KUMAR SINGH AND THE HON’BLE SRI JUSTICE G.M.MOHIUDDIN WRIT APPEAL No.27 of 2026 DATE:09.04.2026 Between:

Maha Hotel Projects Private Limited ….Appellant And State of Telangana and 6 others ….Respondents

JUDGMENT

(Per Hon’ble Sri Justice G.M.Mohiuddin)

Heard Sri Suraj Prakash, learned counsel representing Ms.Vanaparthi Vaishali, learned counsel for the appellant; Sri A.Sudarshan Reddy, learned Advocate General for the State of Telangana duly assisted by Sri I.V.Siddhivardhana, learned Special Government Pleader, appearing for respondent Nos.1 to 3 and 5; Dr.Abhishek Manu Singhvi, learned Senior Counsel and Sri Gyanendra Kumar Seni, learned counsel appearing through video conference for Sri Rajesh Maddy, learned counsel for respondent No.4 and Sri N.Bhujanga Rao, learned Deputy Solicitor General of India appearing for respondent No.7, and perused the record.

2. This Writ Appeal, preferred under Clause 15 of the Letters Patent, is directed against the order dated 20.11.2025 passed by the learned Single Judge in W.P.No.30461 of 2025, whereby the writ petition filed by the appellant came to be dismissed with costs of Rs.10,00,000/-. The writ petition was instituted challenging the decision of the Empowered Committee (Tourism) of the State of Telangana taken in its meeting dated 22.09.2025, whereunder a No Objection Certificate (NOC) was granted in favour of the 4th respondent, being the successful resolution applicant under the Insolvency and Bankruptcy Code, 2016 (for short ‘the IBC’) for change in shareholding and control of the project company, M/s. Golden Jubilee Hotels Private Limited, subject to certain terms and conditions, to facilitate implementation of the approved resolution plan.

Factual matrix (in brief)

3. The lis giving rise to the present proceedings has a long and chequered history spanning over two decades. The State of Andhra Pradesh (now the State of Telangana), through its Youth Advancement, Tourism & Culture Department (YATC), conceived a project for the development of a Five-Star Hotel at Madhapur, Hyderabad, on a Build-Operate-Transfer (BOT) basis. In furtherance thereof, a Request for Proposal (RFP) was issued in the year 2005 inviting bids from eligible entities for developing, financing, constructing, operating, and maintaining the project.

4. Pursuant to the said process, a consortium comprising the appellant’s predecessor, namely My Home Group (Lead Developer), VBC Group (Financial Member), and EIH Ltd. (Technical Member), was declared the successful bidder, and in terms of the RFP conditions. A Special Purpose Vehicle (SPV), viz., M/s. Golden Jubilee Hotels Private Limited (GJHPL), was incorporated as the project company for implementation of the project.

5. Thereafter, Lease Agreements and a Development and Management Agreement (DMA), both dated 09.05.2007, were executed between the State and GJHPL for a tenure of 33 years, governing the rights and obligations of the parties in respect of the project. The consortium structure,