The Indian Tourism Development Corporation (ITDC) today said it has executed transfer documents for transferring Hotel Jaipur Ashok to the Rajasthan government at a negotiated price of Rs 14 crore.
".... it is hereby informed that transfer documents with respect to transfer of Hotel Jaipur Ashok to the Government of Rajasthan executed today," ITDC said in a regulatory filing.
Earlier on September 5, ITDC said that a tripartite memorandum of understanding (MoU) was being executed among ITDC, the Ministry of Tourism and the Government of Rajasthan for transfer of Hotel Jaipur Ashok to the state government at a "negotiated value of Rs 14 crore without any liabilities and encumbrances".
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The ITDC had earlier said, in a letter dated 22 January 2016, that the Rajasthan government, which had leased the property of Hotel Jaipur Ashok to ITDC, has desired it back.
The letter also mentioned that the process had been initiated by the tourism ministry to issue the request for proposal for appointment of transaction advisor who would value the properties and advise government on transaction.
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