Tatas, ITC to battle it out for Delhi's Taj Mansingh

535 Views Updated: 24 Apr 2017
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Tatas, ITC to battle it out for Delhi's Taj Mansingh

With Supreme Court allowing e-auction of Taj Mansingh, a fierce battle for takeover of the prime property near India Gate in New Delhi is all set to begin between the house of Tatas and ITC, the premium tobacco company. takeover of the prime property near India Gate in New Delhi is all set to begin between the house of Tatas and ITC, the premium tobacco company.

The ITC led by YC Deveshwar is all set to make an aggressive bid for Taj Mansingh when the licensor New Delhi Municipal Corporation (NDMC) opens the bidding process in a few weeks from now. Tatas too are expected to make a competitive bid to this prime property which has been a big revenue generator for it in the past. Noticeably, the Indian Hotel Company (IHC), the hospitality wing of Tata has been managing this property since its opening in October 1978.

This contract ended in the year 2011 and extension was given thereafter to Tatas who were looking after this property. The apex court has further said that in case of Tatas losing out the bid, they will have to vacate the hotel in six months. However, Tatas are set to place an aggressive bid and will like to hold on to this prime property which they have been managing since long. case of Tatas losing out the bid, they will have to vacate the hotel in six months. However, Tatas are set to place an aggressive bid and will like to hold on to this prime property which they have been managing since long. was given thereafter to Tatas who were looking after this property. The apex court has further said that in the case of Tatas losing out the bid, they will have to vacate the hotel in six months. However, Tatas are set to place an aggressive bid and will like to hold on to this prime property which they have been managing since long.

ITC meanwhile has not said much about the bid and will want to increase their presence in New Delhi with this bid.

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Posted by: Lovnish Thakur Posts: (277) Opinions: (20) Points: 21,130 Rank: 1
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