Lenders End Bankruptcy Proceedings Against Lavasa Corporation

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The lenders of Lavasa Corporation, a hillside community near Pune, suspended bankruptcy proceedings against the company because they did not receive good deals. The lenders, who are armed with Rs.7,700 in bad debts in the company, will solicit new offers.

According to a bank source, the National Company Law Tribunal (NCLT) has ordered the consolidation of the bankruptcy proceedings against all of its subsidiaries along with Lavasa Corporation, which is why new bids are being sought. Lavasa, a subsidiary of HCC, was sent into bankruptcy in 2018 and has already held the …

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First published: Mon, May 31, 2021. 6:10 am IST



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