Sahara Group alleged that some entities are “looking to grab these properties”
Sahara Group on Monday told the Supreme Court that it was not selling its three overseas hotels, Grosvenor House Hotel in London, the New York Plaza and Dream New York hotels.
New Delhi: The Sahara Group on Monday told the Supreme Court that it was not selling its three overseas hotels, Grosvenor House Hotel in London, the New York Plaza and Dream New York hotels and alleged that some entities are “looking to grab these properties”.
“We will develop these properties. All these persons are looking to grab these properties. These properties including the London property have a huge potential,” senior advocate Kapil Sibal, appearing for the Group, submitted before a bench headed by Justice T.S. Thakur.
The submission by Mr Sibal came during the hearing of the separate applications moved by UK-based property developer Kane Capital Part-ners and US-based investment banker Madison Capital, expressing their willingness to buy properties in London and the US.
The lawyer, appearing for Madison Capital, said Mr Roy’s 40-year-old son Sushanto Roy “orally” had asked Lalit Modi for help in selling off US properties which the former IPL boss had put at $965 million.
After, the bench confirmed with the lawyer that it was the same Modi of IPL fame, it asked Sibal “are you (Sahara) selling these properties?” Mr Sibal replied in the negative and said there are already two offers to develop these properties which will fetch around $6 billion, equivalent to around Rs 36,000 crore.”
He supplied the documents and the MoU in a sealed cover and said “these are serious offers” and “hopefully, we will give some good news in next 7-10 days before the scheduled hearing on September 14.”
( Source : PTI )
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