New Delhi, Feb. 5 -- Raising sharp questions over the valuation of Delhi's iconic Hyatt Regency hotel, the Supreme Court on Wednesday asked why the five-star property was not auctioned at a time when real estate prices were clearly on the rise, and agreed to examine a plea seeking a probe by the Central Bureau of Investigation (CBI) and the Central Vigilance Commission (CVC) into its alleged undervaluation under a One Time Settlement (OTS).
A Bench comprising Chief Justice of India Justice Surya Kant, Justice Joymalya Bagchi and Justice Vipul Pancholi was hearing a petition concerning the OTS entered into between Asian Hotels (North) Pvt Ltd, Punjab National Bank (PNB) and Bank of Maharashtra (BoM).
Questioning the timing and manner of th...