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SC allows NDMC to E- auction Taj Mansingh Hotel

ANI  |  New Delhi [India] 

The Supreme on Thursday allowed the Municipal Council (NDMC) to e-auction the Taj Mansingh Hotel, which is presently run by The Company Limited (IHCL).

Rejecting the Tata Group's plea to stall the auction, The apex made it clear that if the group loses the e-auction, then within period of six months, it will have to vacate the premises.

Earlier on March 3, the NDMC told the apex that it wanted to auction the five-star hotel located in the heart of the capital.

The IHCL, which runs the Taj Mansingh Hotel, on November 8, 2016, approached the apex against the High order, which had paved the way for auctioning of the historic property.

The firm had challenged the October 27 verdict delivered by a division bench of the High Court, which had dismissed IHCL's challenging the move by the NDMC to auction the property.

Prior to this, Chief Minister Kejriwal announced that an open auction of Taj Mansingh Hotel would be done. The announcement was made following a special meeting of the NDMC's top decision-making body.

The High had earlier dismissed the Tata Group's appeal for retaining management rights over the Taj Mansingh Hotel, and in all practicality, told the business conglomerate that it would have to participate in the auction process.

The High Court, however, gave a green signal to the NDMC to go ahead with the public auction of the hotel.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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