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.
Grosvenor House hotel was put on sale by its lender Bank of China earlier this year after a 'technical default'
S Kalyana Ramanathan visits Grosvenor House to see why Sahara paid pounds 470 million for this pre-World War II hotel.
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
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 group has been engaged in a legal battle with Sebi for long over raising Rs 24,000 crore (Rs 240 billion) from investors.
Other London properties, aircraft & offshore accounts are yet to catch the attention of regulators.
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.
Manish Malhotra debuted his designs on a Londopn ramp with much success.
Sahara also sought permission to sell its properties in Bangalore.
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.
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
Surina Narula, a London-based businesswoman and fundraiser for charitable causes, particularly for street children in India
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.
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.
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.
A spokesperson said Sahara group is not into business with Trinity.
The Liverpool forward was rewarded for his performances which have yielded 41 goals in all competitions since joining from AS Roma last year.
The actress spent a glamorous weekend in London.
Suitors came with all-cash offers but were rebuffed
Former IPL chief shooed off potential buyers at the behest of Sushanto Roy, says broker
Sahara group, whose chief Subrata Roy who was in jail for over two years in connection with a long-running dispute with markets regulator Sebi is now out on parole
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.
Roy was jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog.
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.
Roy, who has been in jail for over five months, said that he cannot reveal the name of the party and the bank, saying that their confidentiality has to be protected till the deal is signed.
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.
Two deals are all it took the Sahara Group to let the global hospitality industry know it meant business.
Sahara says it got suspicious on February 1 about the purported letter showing Mirach having blocked sufficient funds with Bank of America.
Roy and his associates were jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog over the company's failure to repay billions of dollars to investors who were sold outlawed bonds.
Sahara told the court it was working on new deals to raise funds.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
Sahara was in funding talks with Mirach
Former England team mate Graeme Swann began the backlash against Kevin Pietersen's new book on Monday by labelling it "the biggest work of fiction since Jules Verne".
