Two foreign firms move SC to buy Sahara’s overseas hotels

Update: 2015-08-15 23:45 GMT
Two private firms on Friday moved the Supreme Court expressing their willingness to buy Sahara Group’s three overseas hotels, Grosvenor House Hotel in London, the New York Plaza and Dream New York hotels, which will help raise money for release of Subrata Roy from jail. A bench, headed by Justice T S Thakur, agreed to hear on August 17 the separate applications filed by Kane Capital Partners Limited, a Britain-based property developer and financier, and an overseas real estate agent. While the UK-based firm was willing to purchase the Grosvenor House Hotel, the real estate agent has sought clarification on the parameters that Sahara would follow in disposing of its two New York hotels. The UK firm has offered to pay 637,000,000 million British Pound Sterling, translating to approximately Rs.6,370 crore.

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