9 July 2019: The National Company Law Tribunal (NCLT) on Monday directed the Securities and Exchange Board of India (Sebi) to wrap up its investigations into the proposed sale of Hotel Leelaventure’s various undertakings to Brookfield in about two weeks,… Read More ›
ITC
ET: ITC trying to scuttle deal with Brookfield, claim Leelaventure promoters
25 June 2019: Promoters for Hotel Leelaventure on Monday told the National Company Law Tribunal that minority shareholder ITC was trying to scuttle their deal with Brookfield, because the Canadian asset manager could pose it challenges in the hotels industry… Read More ›
FE: ITC plea on mismanagement of minority shareholders ‘abuse of process’: JM Fin ARC
20 June 2019: ITC’s petition alleging oppression and mismanagement of minority shareholders against Hotel Leelaventure is an ‘abuse of process’, senior advocate Janak Dwarkadas representing JM Financial Asset Reconstruction Company told the National Company Law Tribunal (NCLT) on Wednesday, adding… Read More ›
CG: Pay 70 bln rupees to take over Hotel Leela, JM Fincl ARC tells ITC
19 June 2019: JM Financial Asset Reconstruction Co Ltd today told ITC Ltd to clear the 70-bln-rupee debt owed by Hotel Leelaventure Ltd if it is interested in saving the debt-ridden hotelier. The comments came as part of the asset reconstruction… Read More ›
FE: Leela Hotels sale: ITC argues for waiver of minimum shareholding norm
19 June 2019: ITC, a minority shareholder in Hotel Leelaventure, on Tuesday sought to argue on its application for waiver of the minimum shareholding requirement. This comes as its petition alleging oppression and mismanagement of minority shareholders effectively remains on… Read More ›
ET: ITC had also challenged the transaction in NCLT, claiming mismanagement and oppression of minority shareholders by the way the deal was structured
11 June 2019: ITC has said it has not made any offer to acquire the assets of Hotel Leela venture, putting to rest speculation that it is keen to acquire the assets at a lower cost being a competitor, and… Read More ›
ET: Of Leelaventure’s total debt of Rs 7,500 crore, HDFC had advanced about Rs 826 crore.
8 June 2019: Stakeholders in debt-laden Hotel Leelaventure are apprehensive that a deal to sell company assets to Brookfield may go the way of Jet Airways after the market regulator stalled the transaction. The Securities and Exchange Board of India,… Read More ›
ET: NCLT accepts Hotel Leelaventure’s request to hear petition after 6 weeks
29 May 2019: The bankruptcy court has given Hotel Leelaventure six weeks before it would take up an insolvency petition against the hotel chain, and asked the markets regulator to complete its examination of the company’s asset-sale deal with Brookfield… Read More ›
BS: NCLT asks Sebi to conclude probe into ITC, LIC allegations against Leela
28 May 2019: The National Company Law Tribunal (NCLT) Tuesday directed market regulator Sebi to conclude its probe into allegations against Hotel Leelaventure by the company’s two minority shareholders ITC and LIC. The NCLT’s Mumbai bench comprising V P Singh… Read More ›
WEEKEND EQUITY UPDATE: 18 AUGUST 2012 – 19 AUGUST 2012
ASIA Prices of new homes in China rose in 49 of the 70 cities in July over the previous month’s data. The cutting of interest rates, improved sentiment and incentives for new home buyers weighed in on the data. Prices… Read More ›
