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

Infrastructure Urban

11 Mar 2026

India Expands Semiconductor Training To 500 Institutions

Under the Chips to Startups programme of the India Semiconductor Mission, the Union minister responsible for Railways, Information and Broadcasting, and Electronics and IT reported notable progress in talent development. He indicated that over the past four years substantial steps have been taken towards a 10-year target of training 85,000 engineers in semiconductor design. World-class EDA tools have been deployed in 315 academic institutions across the country to provide students with practical exposure to chip design. These EDA tools are supported by leading global firms and are accessible t..

Delhi Institutions Support India Semiconductor Mission

The Government of India has prioritised talent development through training, upskilling and workforce development under the Chips to Startups initiative of the India Semiconductor Mission, with officials noting progress in four years towards a 10-year target of training 85,000 engineers in semiconductor design. Electronic design automation tools provided by Synopsys, Cadence, Siemens, Renesas, Ansys and AMD have been deployed in 315 academic institutions, enabling students to gain practical chip design experience. Chips have been fabricated and tested at the Semiconductor Laboratory, Mohali, a..

NHA Announces Winners Of NHCX Hackathon At IIT Hyderabad

The National Health Authority (NHA) has concluded the NHCX Hackathon under the Ayushman Bharat Digital Mission (ABDM) to stimulate innovation around the National Health Claims Exchange (NHCX). The winning teams presented their solutions at the NHCX Innovation Meet held at IIT Hyderabad during a two-day event in March 2026 that also served as the hackathon grand finale. The hackathon itself ran from 22 to 28 February 2026 and aimed to accelerate paperless, transparent claims processing across India. The event was organised with a range of ecosystem partners, including the Insurance Regulatory a..