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
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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.
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