Taj Mansingh

According to sources at the hospital, a letter has been sent to the SDM seeking more time to develop the hospital into a Covid-19 facility

The move to attach it with the Sir Ganga Ram Hospital (SGRH), comes in pursuance of meeting a projected requirement of 150,000 beds in healthcare facilities in Delhi by July-end

Earlier, the Taj Mansingh was given to the Tata group in 1978 on a 33-year lease

NDMC has retained most of the financial expectations from the property

Jean-Michel Casse wants hotel to remain with Tatas, says it has been known as Taj for so many years; hints bringing a new player would be a waste of time and money

Originally scheduled for January 30, the auction was first postponed to February 7, then to February 21 and again to March 7

A number of established hotel companies are jumping into the fray for this 294-room iconic property in Lutyens' Delhi

NDMC is likely to offer Taj on a long-term lease, on a revenue-share model and an upfront payment

Indian Hotels Company (IHC), the Tata Group entity which operates its Taj brand of hotels, will have to participate in an open electonic auction to protect its ownership of the Taj Mahal Hotel, the 294-room luxury one 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, the nominee-run civic body for 42.7 sq km in the centre of the capital), which owns the land it is on, to go for an auction, after years of legal wrangling. IHC said it would participate.Reacting to the development, the company's stock price hit an intra-day low of Rs 123.80 at the BSE and then closed at Rs 126, down 1.3 per cent from the previous day. "We respect the decision and intend to participate in the e-auction when it is held," said a spokesperson. In January, the SC asked both parties to find an amicable solution to their dispute on lease extension. IHC contended it had invested a lot into ...

Also cancels Le Meridien's licence over non-payment of Rs 523-crore dues

A timeline of the flip-flops in the five-star property's lease extensions and call for auction

A division bench of Justice Pradeep Nandrajog and Justice Pratibha Rani dismissed the plea

The dispute between Indian Hotels (the owners of the Taj group) and the NDMC arises out of a 1976 collaboration agreement

The company's stock did not suffer by the Monday order of the single-judge bench