Conclude probe into complaints against Hotel Leela by July 8: NCLT to Sebi

The NCLT on Tuesday directed Securities and Exchange Board of India (Sebi) to conclude its probe into complaints against Hotel Leelaventure by the firms's minority shareholders by July 8, the next date of hearing. 

The tribunal on Tuesday adjourned the Hotel Leela insolvency case to July 8, even as Leela’s counsel was seeking a four-month adjournment in the matter. JM Financial ARC, a financial creditor to the hotel chain, had moved an insolvency plea against the hotel in February. It was assigned 95.6 per cent of the debt owed by Leela after the corporate debt restructuring mechanism failed. JM Financial ARC