Oxford No. 1 Hotel denies takeover by Receiver; instructs lawyers to appeal High Court order

It said Cola Holdings Ltd subsequently applied for and obtained an order appointing a Receiver to take possession of the hotel, which was granted by the court on July 21, 2026, authorising the police to assist Cola Holdings Ltd in taking possession — but does not take effect until seven days after the date of the order.“KRP1 Ltd has instructed Counsel to appeal the decision and to file the applications necessary to restrain Cola Holdings Ltd and the Receiver from taking possession pending determination of the appeal,” the statement said.

Management said while it was engaging IFC to restructure the facility, Azad Cola — through his company, Cola Holdings Ltd — wrote to KRP1 stating that he had personally repaid the loan in full to IFC and demanded reimbursement from KRP1.