You are here: Home » PTI Stories » National » News
Business Standard

Taj Mansingh's auction likely to be postponed again as NDMC gets only 2 bids

Press Trust of India  |  New Delhi 

The much-delayed auction of the iconic Mansingh hotel in Lutyen's is likely to be postponed again as the Municipal Council has got less then the required number of bids for the five-star property to go under the hammer.

"We have got only two bids for the auction, while as per the norms at least three bidders were required for the auction to be conducted. The issue will now be placed before the council, which will decide the further course of action," a senior NDMC told

The auction was to be held on July 18 had the NDMC got at least three bids by today evening.

The civic body had issued an annulment notice for the last month when the auction had to be cancelled since only the Tata Group's Indian Company Limited (IHCL) - the existing operator - had submitted its bid for retaining the property.

The bid of the only other participant, ITC, was not accepted on technical grounds.

The Mansingh was given to the in 1978 on a lease for 33 years, which ended in 2011. The company was since given nine temporary extensions.

However, the civic body could not auction the property then as it was tied up in a legal battle with the IHCL.

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

First Published: Mon, July 09 2018. 20:05 IST
RECOMMENDED FOR YOU