New Delhi Municipal Council holds meeting to auction Taj Mansingh Hotel

New Delhi Municipal Council holds meeting to auction Taj Mansingh Hotel

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Taj Mansingh hotel

The Supreme Court (SC) on January 12 this year asked the New Delhi Municipal Council (NDMC) to reconsider its decision to auction Tata Group’s Taj Mansingh hotel in Delhi within six weeks, cited the Business Standard news report.

There will be no change till then as the status quo ordered in November last year would prevail, it had said.SC passed the order at the end of a three-day hearing on the appeal of Indian Hotels Company (IHCL) against the Delhi high court judgment which allowed NDMC to end the 33-year lease and auction the property.

According to the news report, the Bench presided over by Justice P C Ghose asked the civic body to settle the issue through negotiations or go for auction with the right of first refusal to the Tata firm. If the company offers a matching price, it shall be accepted; else it would be auctioned.

Source- www.zeebiz.com

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