Civil Aviation Minister Vyalar Ravi has cancelled the lease contract of Srinagarâ€™s Centaur Hotel (jointly owned by Air India and the Jammu & Kashmir Government) which was allotted to DB Realty, the company of Shahid Balwa. DB Realty has been in the eye of storm for its shady deals in the 2G spectrum. The Centaur Hotel deal was awarded to DB Realty by the former Civil Aviation Minister Prafful Patel.
DB Realty was awarded a 33 year contract to manage the hotel. It sparked a sharp protest by hotel staff, who saw it as an attempt to privatise valley properties. A delegation of hotel employees, headed by Congress leader Saifuddin Soz, met Vyalar Ravi who initially put the deal on hold and later cancelled it.