LONDON/NEW DELHI: In fresh troubles for crisis-hit Sahara, its over Rs 5,000-crore worth Grosvenor House hotel has been put on sale by the lender Bank of China after a default, which the group attributed to certain "technical breaches".
Sahara Group, which has been trying to raise funds to secure release of its chief Subrata Roy, said it is working on a refinancing transaction to repay the loans to Bank of China and regain control of the iconic property.
Source: http://economictimes.indiatimes.com/news/politics-and-nation/saharas-grosvenor-house-put-on-sale-may-fetch-rs-5000-crore/articleshow/46444229.cms
Sahara Group, which has been trying to raise funds to secure release of its chief Subrata Roy, said it is working on a refinancing transaction to repay the loans to Bank of China and regain control of the iconic property.
Source: http://economictimes.indiatimes.com/news/politics-and-nation/saharas-grosvenor-house-put-on-sale-may-fetch-rs-5000-crore/articleshow/46444229.cms