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From an Indian jail, tycoon tries to sell iconic hotels including New York Plaza

Published on Aug 10, 2014 10:55 AM
 
Sahara Group Chairman Subrata Roy (centre) arrives at the Supreme Court in New Delhi, in this file picture taken on March 4, 2014. -- PHOTO: REUTERS 

NEW DELHI/MUMBAI (REUTERS) - It's hardly the US$30,000 (S$37,564) a night royal suite, but after five months in India's biggest jail, the owner of the New York Plaza and London's Grosvenor House is thrilled to be able to use a modest office as he tries to sell the iconic hotels.

Indian tycoon Subrata Roy is putting up the two trophy properties and another luxury New York hotel for sale to raise US$1.6 billion for the bail bond that will get him out of Tihar, a sprawling New Delhi prison complex that houses about 12,000 inmates.

About a minute's walk from the headquarters of the prison, Roy now has a 600 square feet (56 square metre) office where he can hold video conferences and receive visitors to try and sell or mortgage the hotels, say prison officials.

In a small adjoining room, there are three beds for Roy and two associates who have also been jailed.

 
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