Hotel Leelaventure to sell land to Leela Lace Holdings Pvt Land for 130 crore

Hotel Leelaventure on Saturday said its shareholders have given their consent to sell the company's land in Pune to Leela Lace Holdings Pvt Ltd for a consideration of Rs 130 crore.

Consent of the members is hereby accorded to the board of directors of the company to sell 34,102 sq meters of land owned by the company in Yerwada, Pune to Leela Lace Holdings Pvt Ltd, a related party, for a consideration of Rs 130 crore, Hotel Leelaventure said in a filing to the BSE.

The sale is on as is where is the basis and on such terms and conditions as may be agreed to by the Board and Leela Lace Holdings Pvt Ltd, it added.

The resolution was passed with 88.34 percent of votes favoring the resolution for sale while 11.66 percent votes were against it.

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