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Sahara's Grosvenor House put on sale; may fetch Rs 5,000 crore

LONDON/NEW DELHI: In fresh troubles for crisis-hit Sahara, its over Rs 5,000-crore worth Grosvenor House hotel has been put on sale by the lender Bank of China after a default, which the group attributed to certain "technical breaches". 
Sahara Group, which has been trying to raise funds to secure release of its chief Subrata Roy, said it is working on a refinancing transaction to repay the loans to Bank of China and regain control of the iconic property.
Source: http://economictimes.indiatimes.com/news/politics-and-nation/saharas-grosvenor-house-put-on-sale-may-fetch-rs-5000-crore/articleshow/46444229.cms