Lavasa May Go For Liquidation
<span style="font-weight: 400;">Lenders to Lavasa Corporation, a bankrupt hill city near Pune, have been left disappointed as none of the bidders for the company submitted a viable financial plan. The final bids were opened. There was not even Rs 5 crore upfront cash on the table. The auction was
Published -
Nov 25, 2020 5:18 AM
Lenders to Lavasa Corporation, a bankrupt hill city near Pune, have been left disappointed as none of the bidders for the company submitted a viable financial plan. The final bids were opened. There was not even Rs 5 crore upfront cash on the table. The auction was a total disaster. The banks will have to now consider sending the company for liquidation. A last-minute bid was made by Royal Partners, a Dubai-based fund, but this was not encouraging for the lenders as the fund had earlier backed out.
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