Sebi restrains Hotel Leela from selling properties to Canadian firm Brookfield
The Securities and Exchange Board of India (Sebi) in its letter to Hotel Leelaventure said it has received representations from ITC, which has also moved the National Company Law Tribunal against Hotel Leelaventure alleging "oppression and mismanagement", and minority shareholder LIC.
Cash-strapped Hotel Leelaventure Wednesday said capital markets regulator Sebi has barred it from selling its four hotels and other assets to Canadian firm. Representational Image, source: Reuters