Rejecting the Tata Group's plea to stall the auction, The apex court made it clear that if the group loses the e-auction, then within period of six months, it will have to vacate the premises.
The IHCL, which runs the Taj Mansingh Hotel, on November 8, 2016, approached the apex court against the Delhi High Court order, which had paved the way for auctioning of the historic property.
Prior to this, Delhi Chief Minister Arvind 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 Delhi High Court 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.)