The Securities and Exchange Board of India (SEBI) has barred Hotel Leelaventure from selling its four hotels and other assets to Canadian investment fund Brookfield Asset Management.
On March 18, Hotel Leelaventure had announced sale of its four hotels located in Bengaluru, Chennai, Delhi and Udaipur, and a property to Canadian investment fund Brookfield for Rs 3,950 crore. It has sought shareholders’ approval and voting is scheduled to end on April 24.
Hotel Leelaventure is an India-based holding company, which is engaged in hoteliering business. The company is engaged in providing accommodation and food services, and food and beverage services.
