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Haldiram, 2 others in race to buy out Lavasa for about Rs 2,046 cr

Promoted by HCC, Lavasa was set up as a picturesque hill station near Pune in Maharashtra in 2000. It defaulted on Rs 4,150 crore in loans to banks


Dev ChatterjeeRaghu Mohan Mumbai
Lenders to Lavasa Corporation are set to decide on Thursday on the three offers made for the beleaguered realty company by food major, Haldiram Snacks, the Pune-based builder, Aniruddha Deshpande, and UV Asset Reconstruction Company (UVARC).

Haldiram has offered to take over 100 per cent of Lavasa by infusing Rs 2,046 crore through a consortium of Haldiram Snacks, Pioneer Facor IT Infradevelopers, and Sansar Property LLP. This consortium has already participated in the revival process of Bakemans Industries, Kwality, and Temptation Foods, according to a presentation made by it to banks.

A top banking source said Deshpande, who owns City Corporation, a

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First Published: Oct 31 2019 | 1:52 AM IST

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