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Hotel Properties for Sale as Separate Units |
INDIA TOURISM DEVELOPMENT CORPORATION Restructuring/ Disinvestment This announcement is neither a prospectus nor an offer or an invitation for sale of shares, securities or debentures to the public. EXPRESSION OF INTEREST � FOURTH TRANCHE 1. Background In continuation of the ongoing Restructuring/Disinvestment in India Tourism Development Corporation (�ITDC� or the �Company�), 5 hotel properties are being offered for sale as separate units. 2. Properties Offered In the fourth tranche of the restructuring and disinvestment programme, the following properties have been selected for which brief details are provided below. Properties offered for SALE:
** Under the Master Plan of Delhi, the existing land use of the plot on which the property is situated is "Local Shopping". The property is offered on the basis of its existing land use. Pre-Qualification Criteria Entities submitting an EOI for the above hotel properties should have a minimum combined net worth of the following amounts as at the latest audited balance sheet date.
Sector specific guidelines on foreign direct investment
in "Housing & Real Estate" and "Hotels & Tourism" given in
the Manual on Industrial Policies & Procedures in India, Annexure IV
- Points 5 and 18 respectively, of the Secretariat for Industrial Assistance,
Ministry of Industry, Government of India of February, 2000 will be applicable
(http://indmin.nic.in).
Entities interested in one or more of the above mentioned properties in the proposed restructuring and disinvestment (�Interested Parties�), are required to apply for a Request for Qualification (�RFQ�) to Mr. Ashish Guha ([email protected]) or Mr. Chetan Shah ([email protected]) at Lazard India Limited (Advisor to GoI), 62, Basant Lok, Vasant Vihar, New Delhi � 110 057 (Phone: 91-11-6145369 Fax: 91-11-6147482). Additional information on ITDC and the above properties and RFQ format can be accessed at: www.theashokgroup.com Entities shall submit a separate RFQ for each property they are interested in. A processing fee towards due diligence shall be payable by demand draft/banker's cheque favouring India Tourism Development Corporation payable at Delhi at the rate of: Rs. 1,00,000/- (Rupees One lakh only) each for
properties at serial nos. 1 and 2
The processing fee will be refunded to the parties who do not qualify. The completed RFQ with all relevant documents and the fee amount should be submitted to Lazard India Limited not later than April 25, 2002. No interest will be entertained at a later stage in respect of properties for which a separate RFQ has not been submitted. 5. Joint Ventures / Consortia In case of a joint venture/consortium proposed
to be formed specifically for the purpose of this investment, the details
of the members of the joint venture/consortium, separate confirmation from
each member of the proposed joint venture/consortium and the extent of
their interest therein are required to be given as part of the EOI. Further
changes in the membership of the proposed joint venture/consortium may
be permitted up to the stage of submission of the financial bid, provided
the quality of the joint venture/consortium is not adversely affected.
GoI has the sole discretion to determine the impact of the change in membership
on the quality of the joint venture/consortium and reject a proposal for
such reason.
This advertisement constitutes no form of commitment on part of GoI/ITDC or LAZARD INDIA LIMITED other than to provide further information on the restructuring and disinvestment process to the Qualified Interested Parties, which request for the same. Furthermore, this advertisement confers neither a right nor an expectation on any party to participate in the restructuring and disinvestment process. The GoI/ITDC and LAZARD INDIA LIMITED reserve the right to withdraw from the process or any part thereof or to vary any of its terms at any time without giving any reasons. |
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Lazard India Limited (Advisor to GoI), 62, Basant Lok, Vasant Vihar, New Delhi � 110 057 (Phone: 91-11-6145369 Fax: 91-11-6147482). Mr. Ashish Guha ([email protected]) Mr. Chetan Shah ([email protected]) |