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TaJ Mansingh hotel auction may be stalled

The auction of New Delhi’s Taj Mansingh hotel may again be stalled as Indian Hotels Co. Ltd (IHCL) is the only bidder for the 292-room luxury property, said an official aware of the development.On 24 April, New Delhi Municipality Council came up with fresh dates to submit bids for the hotel, which is currently being operated by the Taj group. The last date for submission of bids was 7 June, while the final auction was scheduled for 20 June. The earlier auction scheduled for 30 January was scrapped after criticism that the tender terms kept many potential bidders out of the fray.

Source : Mint