Taj Mansingh auction date to be set in 1 Month, tender unchanged: NDMC

New Delhi Municipal Council (NDMC) will issue new dates for the auction of Taj Mansingh hotel within a month and will not make any changes to the existing tender document and terms, an official familiar with the matter told ET.

“The auction will take place on the same tender,” the person said. While the conditions mandated three entities to bid for the auction to proceed, the official said they may relax that criteria to include two bidders if the need arises. The rest of the terms will remain unchanged.

Indian Hotels company’s -0.22 % (IHCL), the current operator of the property, was the only bidder for the hotel last week, which led to the annulment of the auction that was to be held next week. ITC Hotels, too, had expressed interest, but its e-bid could not go through.

“ITC is interested in bidding for the property,” the official said. Auction for the hotel located on 1 Mansingh Road has been mired in controversy. The auction was initially expected to be held on January 30 but was scrapped.

Then a revised tender was issued with the new auction date set as June 19. But since IHCL emerged as the only entity to submit its technical bid for the property as on June 7 deadline, the auction got annulled.

IHCL had previously moved the Supreme Court against NDMC, alleging that the revised tender issued by the civic body did not take into account its ‘blemish-free’ record. On June 1, the Supreme Court said it cannot interfere in the dispute between IHCL and the civic body concerning the hotel auction at this stage, which led IHCL to withdraw its petition.

Source:-https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/taj-mansingh-auction-date-to-be-set-in-1-month-tender-unchanged-ndmc/articleshow/64565698.cms

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