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Sultan of Brunei denies reports of his bidding for Sahara's hotels

Tuesday, 19 August 2014 - 10:50am IST | Place: Mumbai | Agency: dna webdesk

A spokesperson for the Sultan of Brunei denied making bids for Sahara's three luxury hotel properties in London and New York, Reuters reported.

Media reports suggested a couple of days back that the Sultan of Brunei could be paying the Sahara group a whopping $2.2 billion to buy all the three properties, New York's Plaza Hotel, Dream Hotel and London's Grosvenor House. An investment firm affiliated with the Sultan might relieve Subrata Roy of his ordeal, the Journal had reported.

"Neither His Majesty, the Brunei Investment Agency, nor the government of Brunei are involved in any way in the purchase of the Grosvenor House in London or the Plaza and Dream Downtown hotels in New York," Reuters quoted a spokesman at Bell Pottinger, acting on behalf of the Sultan of Brunei.

Previous reports had suggested that real estate giant Madison Capital and the Punnawallah family might also be interested in Sahara's New York and London properties respectively.

Media reports have suggested on the other hand, that Sahara might be on its way to finalise the sell of three properties in India which includes a 265 acre land in Vasai and ATul Projects in the city.

Roy has to raise Rs 10,000 crore to be granted a bail, out of which half is to be paid in cash and half in bank guarantee. Roy has to return over Rs 24000 crore to people from whom he had raised money, the instrument of which was later adjudged to be illegal. The total money to be returned with added interest touches almost Rs 40,000 crore.

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