Insolvency plea against Hotel Leelaventure

Hotel Leelaventure on Tuesday said JM Financial Asset Reconstruction Company Ltd has filed an insolvency petition with the Mumbai Bench of the National Company Law Tribunal against the company. In 2014, the erstwhile corporate debt restructuring lenders with exposure of 95.6 per cent to the CDR debt had assigned their debt to JM Financial Asset Reconstruction. Hotel Leelaventure said that it is engaging with prospective investors for a resolution.