ITC moves NCLT seeking to cancel Hotel Leelaventure sale;hearing on June 183 min read . Updated: 24 Apr 2019, 03:36 PM IST
- JM Financial ARC had filed insolvency application against the Mumbai-based hotel chain in January, which owes around ₹5,900 crore to lenders
- As per the information available with the bourses, ITC holds 7.92% stake in Hotel Leelaventure as of the December 2018 quarter
MUMBAI : The NCLT Wednesday issued notices to promoters of Hotel Leelaventure and its lender JM Financial ARC to reply to an ITC petition seeking a waiver of 10% minimum shareholding for minority shareholders to be counted in management matters and adjounred the matter to June 18.
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