Model Code may help Tatas to retain Taj Mansingh Hotel for some more time

The matter is also in the court as IHCL has moved the Delhi High Court seeking a stay on the auction and the next date if hearing is April 16.

The property, constructed by NDMC, was given to Indian Hotels Company Limited in 1978 on lease for 33 years.  

When the lease came to an end in 2011 and NDMC was about to renew the lease, the Urban Development Ministry intervened and asked it to auction the property.  

As time was running out, NDMC gave a year's extension to IHCL.

While the company expected the lease to be renewed in October 2012, the process was stalled temporarily as NDMC could not take a final call.

The agency had again decided to give one-year extension to the Tatas, besides giving the first right of refusal in an auction to be conducted within one year i.e. in 2013.  

But since the civic body was awaiting the Solicitor General's opinion on the matter, another extension of six months, ending in March 2014, was given to IHCL.