Annual Report 2004-2005
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Airport to M/s.Batra Hospitality Pvt. Ltd., ( presently
known as M/s.Sahara Hospitality Limited) in terms of
Agreement to Sell dated 18.04.2002 effective 05.06.2002
at a consideration of Rs.830 Million as per the bid
accepted by the Cabinet Committee on Disinvestment
in its meeting held on 05.02.2002. The disinvestment of
remaining units could not take place as the bids
received was lower than the reserve price and for
disposal of Centaur Lake View Hotel, Srinagar certain
issues were to be resolved with the State Government.
The process of disinvestment in respect of remaining
units was once again re-initiated in 2003 and Expression
of Interest was called for disposal of Centaur Hotel
Delhi Airport (including Chefair Delhi) and Chefair Flight
Catering (including Dining Facilities, Mumbai) through
an advertisement which appeared on 14.10.2003.
Ministry of Disinvestment had shortlisted 39 parties
out of 46 parties whose response was received and 20
parties have deposited the Earnest Money and shown
the seriousness. It is likely that the process of
disinvestment of these two units would be completed
shortly. As regards disposal of Centaur Lake View Hotel,
Srinagar it was decided by the Central Government to
dispose off the same to the Government of J&K at
negotiated terms. Core issues were identified and the
property has been got valued by an individual Valuer
and very soon a decision in this regard would be taken
to transfer the property to the Government J&K.
••
••
• Disposal of Centaur Lake View Hotel, Srinagar:
In pursuance of the Hon’ble Union Minister of
Civil Aviation’s Letter dated 16
th
August 2003 to
the Hon’ble Chief Minister, Government of Jammu
& Kashmir, the State Government has shown its
willingness to take over the property of Centaur
Lake View Hotel, Srinagar. Several meetings have
taken place between the State Government and
the Central Government. The core issues have
been identified, the assets of Centaur Lake View
Hotel had been evaluated by the Asset Valuers,
and same has been submitted to the State
Government for their views. The Chief Secretary, J
& K Government, has informed that they are
examining the matter and would be reverting. It
was desired by the State Government to introduce
Voluntary Retirement Scheme (VRS) for the
employees of Centaur Lake View Hotel Srinagar,
which was agreed, subject to reimbursement of
the said amount by the Government of Jammu &
Kashmir at the time of transfer.
A meeting took place between the Chief Secretary
and CMD-AI on 3
rd
May 2004 where there were
consensus on the principle issues. However, a
counter claim was given for the first time by the
State Government, which was examined. In this
regard, a meeting was organized alongwith the
Principal Secretary-Tourism, J & K Govt. and
officials of HCI at Centaur Hotel Delhi Airport, on
15
th
October 2004 when the core issues were
discussed and a consensus drawn up. As per the
consensus arrived, a sum of Rs. 4.11 crores is due
to be paid by the State Government to HCI as on
31.3.2004. In the said meeting, it was desired by
the State Government to implement VRS among
the staff of CLVH. A reference was made by the
Ministry of Civil Aviation to the State Government
seeking their confirmation with regard to the cost
of VRS and the consensus on the core issues. In
this regard, a meeting of the Central and State
Committees was held on 6.1.2005 when these issues
were addressed.
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