The Tata-owned Taj Mansingh Hotel has been given a three-month extension by the New Delhi Municipal Council. Its lease expired in 2011.
The NDMC held a special meeting to decide on the hotel’s fate on Wednesday, said council chairperson Jalaj Srivastava.
Stalled due to elections
He said: “The council has given a three-month extension from March 31, after which we will auction the property.”
The Home Ministry had in January given orders to hold an open auction of the hotel, but due to the Assembly elections in February, the matter could not be discussed by the Council. An extension was given till March 31.
At Wednesday’s meeting, it was decided to hire a transaction advisor to help with the auction process.
“We had engaged Ernst & Young in 2011 through an open tender to act as our transaction advisor. But they said they are not interested in extending the contract as it has expired. We will be floating a fresh tender within a month,” said Mr. Srivastava.
