Supreme court approves e-auction of Taj Mansing Hotel

Vastavam web: Supreme court allowed to go to e-auction of the popular hotel Taj Mansingh in New Delhi. It’s a strong blow to Tata group of companies as it is going out of hand after some decades. The court said, the NMDC should keep in mind the unblemished manner in which Tatas had run the hotel for over three decades and their legacy should feature the foremost in the auction.

In the case , the Tatas lose out the auction they should be gratitude for giving a period of 6 months to wind up their commitments at the hotel and leave. Moreover SC gave a chance to IHCL to inform any objections within a week, it said, it has no clarity why the hotel been auctioned. The hotel is situated at the centre of New Delhi and has lease for 33 years, the lease expired in October 2011. NMDC decides to go for auction to amplify annual licence fee rather than renewal the lease.