Sahara's surprise move to takeover Grosvenor

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

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.