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SEBI directs Hotel Leela Venture to make additional disclosures to shareholders on asset sale

24 Jul 2019

The Securities and Exchange Board of India (SEBI) has directed Hotel Leela Venture to make additional disclosures to its shareholders on sale of assets.

The ruling has come on complaints received from minority shareholders of Hotel Leela alleging violations in relation to postal ballot notice, dated March 18, wherein the company had sought approvals regarding sale of assets to Brookfield.

Hotel Leela Venture 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.

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