SC puts valuation of Hyatt hotel under scrutiny
New Delhi, Feb. 5 -- The Supreme Court on Wednesday put under scrutiny the valuation of Delhi's Hyatt Regency Hotel in one-time settlement deals between Asian Hotels (North) Private Limited and two public sector banks, observing that it must be satisfied that the settlement was arrived at in a "clean and transparent manner" since public money was involved.
"...We understand the issue of commercial wisdom in such matters, but we have to see whether this commercial wisdom is in the interest of the people...or someone else," the court said while hearing a plea filed by NGO Infrastructure Watchdog. It issued notice to the Union government, Punjab National Bank, Bank of Maharashtra (BoM) and Asian Hotels (North) Pvt Ltd, which owns the Hyatt Reg...
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