Other bidders include Abu Dhabi Investment Authority.
It is one of the three marquee hotels owned by Sahara outside India.
The deal, struck by group firm Aamby Valley for 470 million pounds (about Rs 3,300 crore), makes it one of the largest acquisitions in the hospitality space by an Indian company.
Even as Sebi probed, OFCD money moved across the globe, Aamby Valley (Mauritius) at centre of global transactions; All transactions legal, no Sebi bar on doing business: Sahara
Sahara Group chief Subrata Roy passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, a company statement said. He was 75. He was 75. According to the company statement, he passed away at 10.30 pm due to cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
Grosvenor House hotel was put on sale by its lender Bank of China earlier this year after a 'technical default'
Other London properties, aircraft & offshore accounts are yet to catch the attention of regulators.
Reports said that the two hotels can fetch up to $1 billion.
The company has been given time till June by mortgage holders Reuben Brothers
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
S Kalyana Ramanathan visits Grosvenor House to see why Sahara paid pounds 470 million for this pre-World War II hotel.
Sahara group has been engaged in a legal battle with Sebi for long over raising Rs 24,000 crore (Rs 240 billion) from investors.
An investment vehicle lining up a $2 billion package to help bail the boss of India's troubled Sahara out of jail said it expects to ultimately take control of landmark hotel assets like New York's Plaza after the conglomerate fails to repay lenders.
The Sultan of Brunei has made a bid for New York's Plaza Hotel, Dream Hotel and London's Grosvenor House Hotel, the Wall Street Journal's website edition reported on Saturday, citing people familiar with the situation.
Sahara also sought permission to sell its properties in Bangalore.
The Liverpool forward was rewarded for his performances which have yielded 41 goals in all competitions since joining from AS Roma last year.
Manish Malhotra debuted his designs on a Londopn ramp with much success.
Owners of Pune-based Serum Institute of India, the Poonawalla's have thrown the hat to acquire the iconic Grosvenor Hotel in UK from Sahara Group.
Jail officials, group to thrash out finer details to enable late night skype with Los Angeles-based buyers.
Embroiled in a major crisis back home, Indian conglomerate Sahara has got unsolicited offers for at least three prized assets -- London's Grosvenor House and New York's Plaza and Dreams Downtown hotels.
Indian tycoon Subrata Roy is putting up the two trophy properties and another luxury New York hotel for sale to raise $1.6 billion for the bail bond that will get him out of Tihar, a sprawling New Delhi prison complex that houses about 12,000 inmates.
A spokesperson said Sahara group is not into business with Trinity.
Two deals are all it took the Sahara Group to let the global hospitality industry know it meant business.
The reigning Miss World, Ksenia Kukhinova of Russia, presented the award to India's tourism minister, Kumari Selja at a gala function held at the Grosvenor House in London.
The actress spent a glamorous weekend in London.
Surina Narula, a London-based businesswoman and fundraiser for charitable causes, particularly for street children in India
Sahara was in funding talks with Mirach
NRI entrepreneurs Moni Varma, founder of the Veetee brand basmati rice and Rami Ranger, founder-chairman of Sun Oil Ltd, have won the Asian of the year and Asian Leadership in Europe Awards for 2006 respectively.
56-year-old Goyal was presented the award for his outstanding performance in making Jet Airways one of the world's best and fastest growing airlines.
Kartar Lalwani, NRI, founder-managing director of Vitabiotics, a vitamin supplement company, was adjudged the Entrepreneur of the Year at a function in London on Tuesday night.
England's Kieron Dyer says being named in media coverage of a London hotel sex incident knocked the "cockiness" out of him ahead of Euro 2004.
A French secret agent planted a "bomb" at the French ambassador's residence in London in 1984 to test British security and the plot left Scotland Yard "extremely annoyed", according to declassified documents.
Former IPL chief shooed off potential buyers at the behest of Sushanto Roy, says broker
Suitors came with all-cash offers but were rebuffed
In a relief to Sahara, a US court has rejected a plea seeking to attach the Indian group's prized Plaza and Dream Downtown hotels.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
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The tycoon had been allowed to use an office, phone, internet connection and three secretaries.
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