ITC Hotels, India's second largest hotel chain, has emerged as the highest bidder for Goa-based Park Hyatt property, which was put on the block by IFCI. But the original owners allege the property is being sold at a throwaway price.
P L Suri-headed Blue Coast Hotels, the owner of the Goa property, said the hotel which was kept as a collateral against loan taken from IFCI has been put on the block by the state-owned finance company despite no mutual consent.
source: http://www.business-standard.com/article/companies/itc-highest-bidder-for-park-hyatt-in-goa-but-owner-cries-foul-115022400012_1.html
P L Suri-headed Blue Coast Hotels, the owner of the Goa property, said the hotel which was kept as a collateral against loan taken from IFCI has been put on the block by the state-owned finance company despite no mutual consent.
source: http://www.business-standard.com/article/companies/itc-highest-bidder-for-park-hyatt-in-goa-but-owner-cries-foul-115022400012_1.html