Creditors of Lavasa township receive two new bidders

12 Aug 2021 CW Team

Lavasa township, controlled by Hindustan Construction Company (HCC), has received two more bids for its Rs 6,000 crore loans outstanding in the third round of bidding for the debt-laden company.

According to the sources, two bids from Alchemist ARC, president of the company, Srishti Dhir, along with Madhav Dhir, and the Darwin Projects are being considered by the lenders. Srishti confirmed that she had bid in her capacity in association with Madhav.

The bid amount of Darwin Projects is Rs 750 crore, while Dhir’s have a bid amount of Rs 550 crore, and the bids are at 88% and 91%, respectively. The upfront cash offered by the bidders is less than Rs 100 crore, which is less attractive for the creditors.

The lead lender of the project is Union Bank of India (UBI), with an outstanding loan of Rs 600 crore. Other lenders are Bank of India, State Bank of India (SBI), Axis Bank, and Punjab National Bank. Creditors include L&T Finance along with asset reconstruction companies, Arcil, Acre, and Edelweiss.

In 2018, due to multiple pullbacks by the bidders, the lenders were frustrated because the account was taken to the National Company Law Tribunal (NCLT).

In November 2020, three bids were considered, including a Pune-based realty developer, Anirudh Deshpande, and a Dubai-based fund. Previously, Haldiram Snacks and Oberoi Realty pulled back due to Covid-19 uncertainties.

Dhir acknowledged the challenges of the project but has confidence that she can work with the company to clear the issue. Dhir also plans to launch a hotel in partnership with a renowned company.

Image Source

Also read: Lenders of Lavasa cancel bankruptcy proceedings to invite fresh bids

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..