Reliance Industries Limited, promoted by Mukesh Ambani, is all set to buy IT Park building at Chennai  for Rs. 170 crore.

This building, which now belongs to Hotel Leelaventure, will be acquired by Reliance as the former accepted the proposal in order to tune whatever the amount it could to clear the debt amount of Rs. 4,250 crore.

It is known that Leelaventure runs many seven star hotels and is one of the most sought after brand by many tourists.

Apart from hotels, this company invested in lands in many cities including Hyderabad, Bangalore and Chennai. The land of this company is now being sold to Reliance.  

(AW Phani)