Jammu, June 18: Hotel Ashoka closed in Jammu after decades after non renewal of lease and regular losses.
Hotel Ashoka of ITDC has been landmark in Jammu over all these years.
The statement of ITDC with Cross Town News can be read as " It is informed that, Hotel Jammu Ashok which is one of the hotel units of ITDC was on the land leased out by the Government of J&K in 1970 for a period of 40 years.
The lease expired in 2010 and ITDC had been following with the State Government for renewal of lease since the year 2007.
ITDC had received a letter dated 20 .03.2020 from the Government informing non-renewal of lease in favour of ITDC.
The matter was placed before the ITDC Board in its meeting held on 27.05.2020 and it was decided to do immediate closure of complete operations of the Hotel Jammu Ashok in view of unit incurring losses and offer VRS to the employees working in Hotel Jammu Ashok.
Board also decided to request Govt. of J&K to take back the property along with building, plant and machinery and other assets and pay appropriate valuation amount towards these assets."
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