JM Financial files application with NCLT against Hotel Leelaventure

The application has been filed under Section 7 of the Insolvency and Bankruptcy Code 2016.

Feb 26, 2019 06:02 IST India Infoline News Service

Hotel Leela Venture
Hotel Leela Venture in its filing to the exchanges on Tuesday informed that JM Financial has filed an application with the National Company Law Tribunal, Mumbai Bench, against Hotel Leela Venture Limited under Section 7 of the Insolvency and Bankruptcy Code 2016.

Reacting to this, shares of Hotel Leelaventure slumped 6% on the BSE.

"We further wish to inform you that the Company is continuing to engage with prospective investors for a resolution," Hotel Leela Venture said in a press note to the exchanges.

Hotel Leela Venture Ltd's share price is currently at Rs10.49, down by Rs0.65 or 5.83%, from its previous close of Rs11.14 on the BSE.
The scrip opened at Rs11 and has touched a high and low of Rs11.15 and Rs10.40, respectively. So far, 5,80,932 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs702.43cr.

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