The New Delhi Municipal Council (NDMC) on Thursday decided to auction off one of the most luxurious properties it owns - the Taj Mansingh hotel - and also cancelled Le Meridien Hotel's licence over dues of Rs 523 crore.
The decision to auction Taj Mansigh, brings to an end, a six-year-old tussle between the NDMC and Tata Group, which has operated the landmark property for nearly four decades.
Although the Centre had cleared the decks for the auction two years ago, no action was taken as the civic body was entangled in legal battles with Tata's Indian Hotels Company Limited (IHCL), which has been operating the iconic hotel on Mansingh Road since 1978.
The long-pending decision on Taj and Meridien was announced by Chief Minister Arvind Kejirwal after a special council meeting of NDMC.
The council also decided that Tata will not be given the right to first refusal, which means they will have to contest with other bidders when the auction takes place. NDMC did not say when the auction will be held.

No Comments For This Post, Be first to write a Comment.
Leave a Comment
Enter the code shown:

Can't read the image? click here to refresh

Todays Epaper

Latest Urdu News

Do you think Centre should repeal of CAA, NRC immediately?

Can't Say