The CBI has registered a corruption case against the former Secretary (Disinvestment) Pradip Baijal and others for alleged undervaluation of an Udaipur-based ITDC heritage hotel taken over by a private hotel group, causing a loss of Rs.143 crore to the exchequer.
“The others named in the case are the then Managing Director of Lazard India Limited Ashish Guha; Kantilal Karamsey Vikamsey, proprietor of Kanti Karamsey & Co. (Mumbai); and the authorised representative of Bharat Hotels Limited (New Delhi) besides unknown government officials and persons,” a CBI officer said.
“The case has been registered on allegations pertaining to the disinvestment of ITDC unit Laxmi Vilas Palace Hotel in Udaipur. Investigations allegedly revealed that during 2001-02, the hotel spread across 29 acres with 54 rooms and all accessories, was drastically undervalued and then disinvested to a private hotel located on Barakhamba Road at a price of Rs.7.52 crore,” said the officer.
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