Leela patriarch Krishnan Nair charts plan to protect empire

With ITC breathing down his neck, Hotel Leelaventure chairman Krishnan Nair has put in place a plan that he hopes will keep the hospitality empire he founded within the control of his family. Better known as Captain Nair in Mumbai corporate circles, the 89-year-old Leela chief has convinced his sons, Vivek and Dinesh, to reach an understanding that one brother will not sell the shares he controls to an outsider without offering the stock to the...