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NEW DELHI, June 3 Asia Pulse - The Indian government has approved bids for the sale of four India Tourism Development Corp (BSE:ITDC) hotels at Kovalam, Kolkata, Aurangabad and Manali for over Rs 850 million (US$17.38 million).
Announcing the decision made by the Cabinet Commitee on Disinvestment (CCD), Disinvestment Minister Arun Shourie said that while bids for ITDC's loss making properties at Kovalam, Kolkata, Aurangabad and Manali had been approved there was no taker for the hotel at Khajuraho.
M Far Hotels bagged Kovalam Ashok Beach Resort for Rs 430.68 million against the reserve price ...