Real Estate giant – DLF is in a selling spree. DLF purchased the AMAN RESORTS in 2007 by paying over US$ 400 million has confirmed its decision to sell the hotel chain, with the exception of the Aman Hotel in New Delhi. The company is also seeking to sell its real estate joint venture with the Hilton Group, and also number of plots that had been acquired for building hotels but not used subsequently.
So is DLF going through a cash-crunch or it’s feeling the heat for associating with Son-in-Law of the India’s First Family, Robert Vadra? Fashionscandal had posted earlier about DLF Hotel Holdings entering into a partnership with Sky Light Hospitality Pvt. Ltd., a company fully owned by Robert Vadra and his mother, Maureen Vadra. In 2008, Vadra acquired tracts of land in Haryana and Rajasthan, a 50% stake in a leading business hotel, Hilton Garden Inn in DLF Place Mall in Saket, Delhi. Several of Vadra’s companies have received loans, some unsecured, from DLF group companies, including the flagship DLF Ltd.
You can read the earlier posting here: