The Central Bureau of Investigation conducted searches at the premises of Golden Jubilee Hotels Private Limited directors, who own the luxury Trident Hotel in Madhapur, as part of an investigation into alleged fraudulent trading and suspicious financial transactions involving a term loan and non-fund based credit totaling over Rs 1,285 crore.

The Supreme Court issued a notice to major hotel owners including Trident Hotel, alleging that cost-cutting measures led to inadequate security preparedness. The notice followed a petition highlighting that, despite prior warnings about potential terror attacks, the hotel failed to deploy sufficient security personnel and equipment.

Trident Hotel representatives, Arjun Singh Oberoi and LN Sharma, have approached the high court to quash a CBI FIR that was registered following allegations of funds diversion and fraud related to a Rs 1,250 crore case with Bank of Baroda. The legal action raises concerns about the company's adherence to ethical business practices and accountability.

Golden Jubilee Hotels, owner of Trident Hotel, and its directors were booked by the CBI for an alleged Rs 1,285 crore bank loan fraud, involving diversion of funds and fraudulent trading, as reported by the Times of India.

US private equity firm Blackstone Group obtained approval from India's bankruptcy court to acquire Trident Hotel for Rs 585 crore. As part of its resolution plan, Blackstone committed to an upfront payment of Rs 384 crore to clear dues for workmen and creditors, ensuring that contractual and worker obligations are met.