NCLT gives two months to Hotel Leela Venture to comply with new SEBI directives

26 Jul 2019

Hotel Leela Venture has got two months time from the National Company Law Tribunal (NCLT) to comply with the latest SEBI directives asking the hospitality company to make additional disclosures to shareholders to proceed with its proposed sale to Brookfield for Rs 3,950 crore.

Hotel Leela Venture’s counsel, Ashish Pyasi of Dhir & Dhir Associates, tendered a copy of the new SEBI order and sought two months to comply with the same so that it can proceed with the transaction with Brookfield which has offered Rs 3,950 crore for the four properties of the premium hotel chain.

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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