CCD to meet tomorrow to clear sale of ITDC hotels

New Delhi, July 04: Cabinet Committee on Disinvestment would meet tomorrow to clear the sale of hotel properties of Indian Tourism Development Corporation (ITDC) including Kanishka and Indraprastha.

New Delhi, July 04: Cabinet Committee on Disinvestment would meet tomorrow to clear the sale of hotel properties of Indian Tourism Development Corporation (ITDC) including Kanishka and Indraprastha.
The meeting would finalise buyers for Chandigarh, Khajuraho, Varanasi, Kanishka and Indraprastha properties of the Hotel Corporation, financial bids for which closed last
month, sources said.

CCD meeting which was slated for July 2 had to be rescheduled owing to pre-occupation of the Prime Minister with cabinet reshuffle.

While Taj-GVK group and Bharat hotels group were reported to be in the fray for Chandigarh property as many as eight players including Bharat hotels, Eros, Honda and A V Batra groups were in the race for Kanishka hotel.

Tata group promoted Taj-GVK combine was reported to be
ahead in race for Chanidgarh property whereas Eros group as ahead in the race for Kanishka property.

The meeting would also discuss the delays in securing clearance for sale of Jessop and Co from Board for Industrial
and Financial Reconstruction (BIFR). Last fiscal CCD had
approved sale of loss making PSU to Ruia group promoted Coatex for Rs 18 crore.

CCD would also review the progress in disinvestment of
other PSUs slated for privatisation in the current fiscal.

Bureau Report

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