Jailed Indian tycoon seeks buyers for hotels

03 Aug, 2014

Indian tycoon Subrata Roy, seeking to raise $1.6 billion to win release from jail, has "interested" potential buyers for his iconic foreign properties that include New York's Plaza Hotel, a company official said on Saturday. The Supreme Court on Friday gave the flamboyant founder of India's Sahara media-to-finance empire "10 working days" to use a special conference room at New Delhi's sprawling Tihar Jail complex "to negotiate sale of three foreign properties".
Up for grabs are two famous hotels - New York's Plaza Hotel and Grosvenor House in London - along with the Dream Downtown in New York, that Roy purchased to accumulate a luxury accommodation portfolio. "There are people interested in the properties, we can't say more," the Sahara India Pariwar official told AFP on condition of anonymity.

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