New Delhi, Oct. 19 -- A former director of Gstaad Hotels Pvt. Ltd, which previously owned the JW Marriott Hotel in Bengaluru, has moved the Supreme Court challenging an appellate tribunal's order that upheld insolvency proceedings against the hospitality firm.

Mint has seen a copy of the petition filed by Deepak Raheja.

The National Company Law Tribunal (NCLT) in July directed initiation of the corporate insolvency resolution process (CIRP) against Mumbai-based Gstaad Hotels after one of the company's financial creditors, Omkara Asset Reconstruction, moved the bankruptcy court over dues worth Rs.666 crore.

In August, the National Company Law Appellate Tribunal (NCLAT) affirmed the bankruptcy court's decision to declare Gstaad Hotels ba...