Leelaventure gets shareholders' nod to sell hotels, will heed Sebi order

On March 18, Hotel Leelaventure had announced the sale of its four hotels located in Bengaluru, Chennai, Delhi and Udaipur

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 of which shareholders have approved sale of are in Delhi, Bengaluru, Chennai and Udaipur, Hotel Leelaventure said in a filing to the BSE.

The shareholders also gave their nod to the