Hyatt shutdown fallout: 2 independent directors of Asian Hotels West resign

Raj Kumar Bhargava and Lalit Bhasin cite refusal of Chairperson to convene Board meeting to discuss acute financial crises of the company

Days after Hyatt Regency shut its Mumbai property owing to a financial cruch, its asset owner Asian Hotels (West) announced that Raj Kumar Bhargava and Lalit Bhasin resigned as Independent Directors of the company with effect from June 8.

Hyatt was managing the property in Mumbai on a contract basis on behalf of Asian Hotels. 

"I have been constrained to take this extreme step due to failure and refusal on the part of the Chairperson to convene a Board meeting to discuss the acute financial crises which the company is facing," said Lalit Bhasin.

"There is an atmosphere of hostility