Live Help
Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :


Thank you for your details

Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session

SAT dismisses ITC’s appeal challenging sale of ‘Leela hotels’ to ‘Brookfield Asset Management Inc.’

September 28, 2019[2019] 109 503 (SAT - Mumbai)

COMPANY LAW/SEBI : Securities Appellate Tribunal (SAT) dismissed appeal by ITC Ltd challenging sale of Hotel Leelaventure Ltd's assets to Brookfield Asset Management Inc. on ground of related party transaction

• While SEBI as a regulator define related party transaction as a transaction 'between a listed entity (Company) and a related party' the Parliament define the term as per section 188 of the Companies Act, 2013 as 'a transaction of a Company with a related party'. None of the provisions leave any scope for interpretation of the same. Through the interpretation, the scope of the definition cannot be widened to bring in it's scope any transaction in which directors etc would have some real or perceived interest.

read more
Best view in 1140 x 768