Taj Mansingh Hotel In Legal Tug Of War, Must Be Auctioned,…

Posted April 22, 2017

The SC also asked NDMC to keep in mind the "blemish-free" record of IHCL, while holding the auction.

In a meeting conducted past year, which was headed by CM Arvind Kejriwal, decided that the hotel will be auctioned. The firm then had challenged the verdict in the Supreme Court.

The Supreme Court of India on Thursday allowed civic agency NDMC to e-auction five-star hotel Taj Mansingh, presently being run by Tata Group firm Indian Hotels Company (IHCL), in the heart of the national capital. In October a year ago, the Delhi High Court had dismissed a plea by IHCL, which challenged an earlier verdict allowing the auction of the hotel.

The property, owned by the NDMC, was given to IHCL on a 33-year lease that ended in 2011.

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Although the court allowed the civic body's plea that the Tata Group firm can not have the right to refusal in the auctioning, it asked NDMC to grant six months' "breathing time" to the IHCL to vacate the hotel in case they lose out. Earlier, IHCL had moved the apex court against a Delhi High Court order which had allowed NDMC to go ahead with a public auction against the group's contention that the lease be renewed by mutual discussion.

The apex court has said that if Tatas lose out in the e-auction, then it would have to vacate the property within six months.

The high court had implicitly told the Tatas that it would have to participate in the auction planned by owners NDMC.

Last month, the civic body had approved the auction of the iconic property while cancelling Le Meridien Hotel's licence over uncleared dues of Rs 523 crore. The Group's hotel division was given nine extensions after that.

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The NDMC had earlier said it was in the process of assessing the assets of the hotel in preparation for the much-delayed auction. On Thursday, the court allowed e-auction of the property.

Indian Hotels had entered into an agreement with the NDMC to construct the five-star Taj Mahal Hotel in December 1976.

IHCL claimed that the original licence agreement-with NDMC as the licensor and IHCL as the licencee-later became a joint venture with two equal partners; the high court rejected this claim.

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