The New Delhi Municipal Council (NDMC) on Thursday deferred the public auction of Taj Mansigh after the Union home ministry wrote to the civic body to cancel Tata-owned Indian Hotels Company’s first right of refusal as it may result in lower bids in the public auction.
Following this, NMDC has sought the opinion of the Solicitor General on the future of Taj Mansingh.
Taj Mansingh Hotel at Mansingh Road in New Delhi is managed by the Tatas but the New Delhi Municipal Council owns the building.
The 33-year lease agreement between NMDC and IHCL ended in October 2011, after which the civic body decided to opt for a public auction, instead of renewing the lease as it would maximise the annual licence fee.
Full report here Firstpost
