sebi:WTM/GM/CFD/25A/2019-20

SEBI · SEBI · 2019-07-23 · Whole Time Member (G. Mahalingam)

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Facts / Headnote

Clarification of the direction contained at paragraph 22.A.iv. of the Order dated July 23, 2019 (WTM/GM/CFD/25/2019-20)

Holding

The direction in paragraph 22.A.iv. of the July 23, 2019 Order stands clarified: the Asset Sale Transaction shall be put to vote by HLVL before its shareholders afresh, and HLVL shall ensure disclosure of all relevant details regarding the Additional IP Transaction of the Promoters/Promoters' affiliates (excluding the 'related party transaction' involving transfer of 'Jamavar' trademark), in the Explanatory Statement to the Postal Ballot Notice.

Full text

in the matter of Hotel Leela Venture Limited Page 1 of 1 WTM/GM/CFD/ 25A /2019–20 SECURITIES AND EXCHANGE BOARD OF INDIA ADDENDUM IN THE MATTER OF COMPLAINTS FILED BY MINORITY SHAREHOLDERS OF HOTEL LEELA VENTURE LIMITED –

1. Securities and Exchange Board of India had passed an Order dated July 23, 2019, bearing reference number WTM/GM/ CFD / 25 /2019–20 (hereinafter referred to as “Order”) in the matter of complaints filed by minority shareholders of Hotel Leela Venture Limited (“HLVL/Company”).

2. Pursuant to a query from HLVL regarding the implementation of the direction contained at paragraph 22. A. iv. of the Order, the direction in the aforementioned paragraph stands clarified as under:

Source: SecMarx — sebi:WTM/GM/CFD/25A/2019-20. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.