New Delhi: In further trouble for Tehelka founder editor Tarun Tejpal, a report published in a national daily said that he had joined hands with liquor baron Ponty Chadha to start a private club for elite Indians.
The club, ‘Prufrock' exclusively meant for select urban Indians was described by Tejpal to prospective members as, “a vibrant cultural space, where a highly accomplished, eclectic community of select urban Indians can meet and engage in an atmosphere of great intimacy with eminent people who make and shape the world”.
According to a report published in The Indian Express, controversial liquor baron Ponty Chadha decided to invest in Prufrock in early 2012 after Tejpal made a business presentation on the concept of an exclusive private club.
Chadha was killed in a shootout in his farmhouse in Delhi in November 2012 but his son Manpreet ‘Monty' Chadha decided to honour all business commitments of his father, they said.
On August 26, Chadha Hotel's Pvt Ltd invested Rs. 2 crore for 11,111 shares issued at Rs. 1,800 per share.
“Chadha Group invested in this company after a detailed presentation on the concept of the business. Our investment was from the point of view of profit and exit when it appreciates. We are not involved in the daily operations,” a Chadha Group spokesperson told The Indian Express.
Prufrock is to be located in the M-Block market of the upscale Greater Kailash-II area and the interior work of the club is in progress at present.
It is a few buildings away from the Tehelka office and workers at the site said construction began in July and is expected to be completed in three months from now.
Real estate agencies said annual rent for the space is estimated to be around Rs. 6.5 crore.