Hotel Leelaventure gets shareholders' nod to sell hotels
Hotel Leelaventure Friday said its shareholders have approved the resolutions to sell its four hotels, hotel operations, and its shares in the company's arm Leela Palaces and Resorts Ltd by postal ballot. The company, however, said it will abide by the directions of Sebi that none of the transactions proposed in the its postal ballot notice will be acted upon till further directions from the markets regulator. The hotels the sale of which shareholders have approved are in Delhi, Bengaluru, Chennai and Udaipur, Hotel Leelaventure said in a filing to the BSE. The shareholders also gave their nod to the sale of the company's hotel operations undertaking and to the sale of the company's shareholding in Leela Palaces and Resorts Ltd, its wholly-owned subsidiary, it added.
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