PRINCE KUMAR
Ranchi, Dec 8: A year has passed since the Jharkhand Tourism Development Corporation (JTDC) signed a memorandum of understanding with the central PSU Indian Tourism Development Corporation (ITDC) for the complete takeover of Ranchi’s Ashoka Hotel.
The hotel went under lock and key in 2018 as RABHL grappled with mounting liabilities which stood a little over Rs 4 crore in early 2020. The hotel is now in a very bad state as unwanted plants have taken the space and the hotel is waiting for its revival.
The hotel had to go with three phases of approval before getting back its glory. According to the information, the process of approval from the central government and government of Bihar is in process and within a span of 2 to 3 months the hotel will come under the ambit of JTDC.
The hotel, built on a 2.7-acre plot in Ranchi’s Doranda locality, was opened under a joint venture of the then Bihar government and ITDC under Ranchi Ashoka Bihar Hotel Corporation Limited (RABHL), a company formed in 1983. While ITDC had a 51% stake in the hotel, the Bihar government held control over the remaining.
The stakes were split in three after 2000 when Jharkhand was carved out of Bihar. While ITDC held its share, the Jharkhand government was handed a 12.5% share of Bihar’s stake.
??The hotel had 24 permanent employees in 2018. Before gradually losing its sheen and glory in the last few years, the property, which consists of 30 rooms and two banquet halls, hosted VIP guests such former PM Atal Bihari Vajpayee, Lal Krishna Advani, Lalu Prasad and prominent celebrities and actors. It was also the scene of a gathering of many political rumblings during the tenure of former CM Babulal Maradi, Arjun Munda and Madhu Koda.
??While the JTDC began the purchase of ITDC’s 25,000 shares which are pegged at Rs 6 crore and it will also pay the RABHL’s outstanding liabilities. The plot’s ownership will remain with JTDC.
