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Supreme Court allows NDMC to auction Taj Mansingh

Tata Group entity loses legal battle to get unchallenged lease extension

Taj Mansingh Hotel, New Delhi
Taj Mansingh Hotel, New Delhi (Source: Wikipedia)

Indian Hotels Company (IHC), the Tata Group entity which operates Taj brand of hotels, will have to participate in an open auction to protect its ownership of the Taj Mahal Hotel, the 294-room luxury property in the heart of Delhi and popularly called the Taj Mansingh, after the road it is on. The Supreme Court on Thursday gave its nod to the New Delhi Municipal Council (NDMC), which owns the land on which the hotel stands, to go for an auction, after years of legal wrangling. IHC said it would participate. Reacting to the development, the company’s stock ...