Sahara's surprise move to takeover Grosvenor

Published on May 27, 2015 13:08:23 PM
Business

In yet another attempt, Subrata Roy’s Sahara group is bidding to gain control over Grosvenor House.

Sahara Group had lost the control over the hotel as it is defaulted on a loan early this year.

According to ET’s report, Sahara Group is one among the top bidders. The received bids amount up to Rs 6,150 crore.

The top bidders list includes M&G Prudential, Constellation Hotels Holding, China's Fosun Group and Abu Dhabi Investment Authority.

This is quite a puzzling move as Subrata Roy is in Tihar jail since last year as the Group is unable to submit a bail bond of Rs 10,000 crore, but the group is now all set to gain control over the hotel.