 "bankruptcy code, Insolvency and Bankruptcy Code, IBC, bankruptcy")
The resolution professional (RP) appointed to oversee the insolvency proceedings of Lavasa Corporation, on Wednesday, issued an Expression of Interest (EoI) inviting interested parties to submit resolution plans under the Insolvency and Bankruptcy Code (IBC).
The last date for submitting the resolution plan is 22 January 2019, and the RP appointed is Shailesh Verma of the Deloitee Touche Tohmatsu India LLP.
Lavasa, the country's first privately-developed and managed city, was constructed by Hindustan Construction Company (HCC) which posted a net loss of Rs 15.25 billion in the second quarter (Q2) of FY19, against the corresponding quarter’s net profit of Rs 110
