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Leela-Brookfield Deal To Leave Behind Shell Company With Only Liabilities, ITC Says
ITC objects to the Brookfield- Hotel Leela deal. But does it have a strong case?
30 Apr 2019, 06:54 PM IST
If Hotel Leelaventure Ltd. is allowed to sell its properties and operations to Brookfield Asset Management Inc. in a Rs 3,950 crore deal, it will end up becoming a shell company with only liabilities. Two minority shareholders—ITC Ltd. and its wholly-owned subsidiary Russell Credit Ltd.—of Hotel Leela Venture have approached the National Company Law Tribunal with this argument, alleging oppression and mismanagement.ITC is not the onl...
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