German firm mulls buyout of Dighi Port

Debt-laden port could get into insolvency list, but promoters say talks are on with investors

A German port company is examining the case for buying debt-laden Dighi Port, at a time when the latter could be taken before the National Company Law Tribunal (NCLT) for unpaid loans.

“Due diligence has just started and will take till at least December-end for the process to get over. But, with lenders and creditors losing patience, there is a strong possibility of Dighi entering the NCLT list,” a source told Business Standard. He did not divulge the German company’s name.

Dighi is in Raigad district of Maharashtra, about 170 km from Mumbai by road. The port is being developed by Balaji