David vs Goliath: Battle lines drawn between Hotel Leelaventure and ITC

The brewing corporate battle between ITC Ltd and Hotel Leelaventure would put the spotlight on the rights and the responsibilities of a player that is both lender and equity holder

Ishita Ayan Dutt
Last Updated at April 28, 2019 23:19 IST

Last week, tobacco-to-hotels major ITC Ltd filed a petition in the National Company Law Tribunal (NCLT) under Section 241 of the Companies Act, 2013, accusing Hotel Leelaventure of oppression and mismanagement in the proposed sale of four hotels and property to Canadian private equity player, Brookfield.

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