Hotel Leela sale of assets to Brookfield: SAT dismisses ITC challenge to SEBI order

Aditya AK September 27 2019

The Securities Appellate Tribunal (SAT) today dismissed an appeal filed by ITC Limited relating to a grievance raised against the sale of the assets of Hotel Leela to real estate company Brookfield.

ITC had challenged an order passed by the Securities and Exchange Board of India (SEBI) which had green signalled certain aspects relating to the transaction.

By way of background, Hotel Leela Ventures Limited, being under financial distress, decided to restructure its debts under the Corporate Debt Restructuring . . .

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