Mumbai based Oberoi Constructions is reportedly in the process of acquiring
The Beach, a hotel site in southwest Goa. This property is located adjacent to
Indian Hotel Company’s five-star spa resort Taj Exotica Goa.
The State Bank of India (SBI) had appropriated the hotel from its unknown
promoters for non-payment of dues to the tune of Rs 38 crore. According to
sources, Oberoi may bag the deal costing between Rs 60-100 crore, given the
nature of the asset- a non performing asset for its lender SBI.