A presentation by the CBI to a Joint Parliamentary Committee last week said the decision led to a loss of Rs 508 crore to the exchequer.
The lease term of the Taj Palace Hotel, owned by the Indian Hotels Company, will expire on April 1, 2013, and it must settle a dispute with the Delhi Development Authority over the quantum of licence fee for a smooth renewal.
The company sees many more areas of inorganic growth in the future.
About 12 years ago when the Marriott group started its India stint with the opening of Marriott Goa, it was one of the few international hotels to seize the 'India opportunity.'
The CBI, facing a shortage of investigative officers and a rise in financial offences, is planning to recruit for short tenures personnel from public sector banks working at the corresponding grade of CBI Inspector. Those hired will be a part of the CBI's Bank Fraud Investigation Cell.
Many leading hospitality companies looking at expansion are either deferring launches or stalling projects on the back of various challenges including fund crunch and roadblocks in getting permits.
Indian appetite for adventure tourism is increasing consistently, with the segment seeing an over 10 per cent year on year increase in travellers.
A Central Bureau of Investigation (CBI) official said the agency would soon call Malaysian businessman T Ananda Krishnan for questioning. Maxis is part of the business empire of Krishnan, who is expected to soon fly to New Delhi.
The third chargesheet was scheduled to come out by the first week of July.
Gautam Adani, the 48-year-old chairman of the Ahmedabad-based company was declared the seventh-richest Indian by Forbes in September 2010 and the second-richest by Business Standard in December 2010.
Central probe agency likely to file third chargesheet in some weeks, may name Datacom, Loop Telecom.
While DB Realty sent out an official statement early evening, Unitech did that much later.
Oberoi Hotels on Tuesday inaugurated its first luxury hotel there, right next to the Trident property, under a management contract with Orbit Resorts.
Among the various ways being considered by the central government to raise Rs 5,000 crore (Rs 50 billion) from tax-free bonds for shipping ports, one is to allow major ports to themselves issue these.
With Indian travellers getting more eager to venture out in the uncharted territory, travel agencies are offering attractive discounts on several such unheard-of destinations.
Indians have been travelling to the "land of the rising sun" in large numbers, especially for business, thanks to the close ties with automobile and engineering companies.
Companies prefer to set up their own guest houses rather than paying huge tariffs at luxury hotels.
This will be MGM's first destination in India, and it expects to be ready by early 2014. There won't be any casino here, though.
Creating a new image for the client concerned, while making him disappear from the public domain for some time, are among the strategies that often work.
Travel agencies are blocking inventory with the hotels for the last minute travellers as supply is getting dried up.
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