Taj Mansingh to be auctioned
DNMUM387140 | 4/21/2017 | Author : DNA Correspondent | WC :338 | India
New Delhi: The national Capital’s iconic Taj Mansingh Hotel, has been allowed to go under the hammer by the Supreme Court (SC).
Clearing the decks for the New Delhi Municipal Corporation (NDMC) to e-auction the five-star property, currently being run by Tata Group firm Indian Hotels Company (IHCL), the apex court Bench comprising Justices PC Ghose and RF Nariman, however, asked the civic body to grant a “breathing time” of six months to the company to vacate the premises, if it fails to make it to the auction cut.
The SC also asked NDMC to keep in mind the “blemish-free” record of IHCL, while holding the auction. Allowing NDMC’s plea, the Bench said that the Tata Group cannot have the right of refusal in the auctioning. The civ
Read full story
ic body had, on March 3, told the SC that it wants to e-auction the hotel.
The court had earlier asked IHCL, which challenged a Delhi High Court (HC) order, to file objections, if any, within a week. IHCL told the apex court that it was “not clear” why NDMC wanted to auction the prime property, which gave the “best revenue” to it. The company further submitted that the civic agency expert report suggests that NDMC would “lose revenue”, if the hotel was auctioned.
The hotel, on the other hand, maintained that it would be business as usual. An official of the hotel said that Taj Mansingh is committed to serving its clientele. The hotel was buzzing with activity on Thursday as well, when the SC orders were pronounced. The official further said that IHCL will participate in the auction as and when it is scheduled.
Meanwhile, in a bid to create transparency in the bidding process, the NDMC will conduct an e-auction of the hotel. The civic agency has engaged SBICAPS as the transaction advisor for putting the iconic five-star hotel under the hammer. NDMC has also appointed Metal Scrap Trading Corporation (MSTC) as the auction agency.
Earlier, the civic body, also conducted the e-auction of Asian Hotel through MSTC.
Copyright restricted. Under license from
www.dnasyndication.com
More on Top News
 
Unnao accused back in jail as CBI remand ends
DNDEL18071 | 4/23/2018 12:00:00 AM | Author : DNA Correspondent | WC :171 Lucknow: Atul Singh, brother of arrested BJP MLA Kuldeep Singh Sengar, and four others, accused of gangrape and murder in the Unnao case, were sent back to jail after their CBI remand ended on Sunday.Kuldeep Singh and four others are accused of the b J & K shutters coaching centres
DNDEL18072 | 4/23/2018 12:00:00 AM | Author : DNA Correspondent | WC :302 Srinagar: A day after he threatened to shut down educational institutions over student protests against Kathua rape, Jammu and Kashmir Minister for Education Syed Mohammad Altaf Bukhari on Sunday ordered closure of all private coaching institutions f Modi, Xi will hold talks in China on April 27-28
DNMUM412719 | 4/23/2018 12:00:00 AM | Author : DNA Correspondent | WC :471 New Delhi: Prime Minister Narendra Modi and Chinese President Xi Jinping will hold an informal summit in China’s Wuhan city on April 27- 28 as the two countries are putting in efforts to normalise diplomatic ties that suffered a blow after last year’ Foreign e-wallets data has PMO worried
DNMUM412720 | 4/23/2018 12:00:00 AM | Author : Abhishek Bhalla | WC :444 New Delhi: The Prime Minister’s Office (PMO) has raised an alarm over the functioning of foreign digital payment providers. It has written to the Union Ministry of Home Affairs (MHA), citing concerns raised by the Intelligence Bureau (IB), and a poss
Rana Daggubati DNMUM476095 Tusshar Kapoor DNMUM476097 Tamanna Bhatia DNMUM476098
|
