Darwin Platform wins for Lavasa Corporation resolution bid

30 Dec 2021 CW Team

Darwin Platform Infrastructure Limited (DPIL) has emerged as the winner for the financial bids for the resolution of the Lavasa Corporation, which is developing India's first privately-built smart city near Pune.

The Committee of Creditors (CoC) of the Lavasa Corporation Limited had voted in favour of the revised plan submitted by DPIL with an offer of Rs 1,814 crore in the final resolution plan.

Ajit Gulabchand, Chairman of Hindustan Construction Company, promoted the Lavasa project admitted for insolvency to the National Company Law Tribunal (NCLT) in 2018.

Last month, DPIL submitted an addendum to its resolution plan. The CoC started the process to finalise the resolution plan for the applicants. The CoC voted on the resolution plan to finalise the bidder.

Group Chairman of Darwin Platform Group of Companies (DPGC), Ajay Harinath Singh, said that the revised resolution plan was very competitive as per the rational cost calculations. He further said that DPIL is committed to executing the resolution plan as per the schedule proposed to the CoC.

The company has proposed a payment plan, including an upfront payment of Rs 100 crore. It involves the redemption of secured non-convertible debentures (NCDs) at the end of 108 months to incur Rs 1,466.50 crore.

Image Source

Also read: Final bids for Lavasa project last hope for residents

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..