I've spent quite a bit of time at the Maurya Sheraton. If you're Platinum, you should be upgraded to a suite or a Towers room. I prefer the Towers due to its own reception and the privacy it offers.
It is true to say that the owner, ITC (formerly the India Tobacco Company), has some kind of unique relationship with Starwood. The hotel has a separate luxury wing which it has named ITC One. It is virtually impossible to be upgraded to this wing unless your original booking is at a minimum rate. ITC seems to be able to do this because it classes ITC One as its own brand.
There is a
thread regarding this upgrade policy which includes comments by William.
Despite this, the hotel is great, the service is excellent and the place doesn't smell funny.
The Taj Palace, next door, is also a very good hotel.