SEBI bars Leela from selling hotel assets to Canadian fund Brookfield
Hotel Leelaventure on March 18 had announced the sale of its four hotels and a property to Canadian investment fund Brookfield for Rs 3,950 crore.

- Apr 24, 2019,
- Updated Apr 24, 2019 12:48 PM IST
The Securities and Exchange Board of India (SEBI) has barred Hotel Leelaventure from selling its four high-profile hotels and other assets to Canadian investment fund Brookfield Asset Management.
The development comes after ITC moved the National Company Law Tribunal (NCLT) against Leela alleging "oppression and mismanagement". ITC also claimed that the deal between Leela and Brookfield is against the company's and shareholders' interests. SEBI has received representations from ITC in the matter and mentioned this in its letter to Leela.
ITC's plea was mentioned before the Mumbai bench of the NCLT, which has posted the matter for hearing Wednesday, Hotel Leelaventure said in a regulatory filing Tuesday.
(With inputs from agency)The Securities and Exchange Board of India (SEBI) has barred Hotel Leelaventure from selling its four high-profile hotels and other assets to Canadian investment fund Brookfield Asset Management.
The development comes after ITC moved the National Company Law Tribunal (NCLT) against Leela alleging "oppression and mismanagement". ITC also claimed that the deal between Leela and Brookfield is against the company's and shareholders' interests. SEBI has received representations from ITC in the matter and mentioned this in its letter to Leela.
ITC's plea was mentioned before the Mumbai bench of the NCLT, which has posted the matter for hearing Wednesday, Hotel Leelaventure said in a regulatory filing Tuesday.
(With inputs from agency)