Lenders again extend date for inviting bids for Lavasa Corporation

According to an insider, as the IBC process will not be able to garner good offers and the company should not be sent for liquidation as all stakeholders will lose money in the process

The lenders to the real estate firm, Lavasa Corporation, have yet again extended the date for inviting bids for the firm to June 8, 2020, as bidders' interest has waned for real estate companies due to the ongoing coronavirus pandemic.

According to a source close to the development, there are no takers for the company as the fortunes of real estate firms have crashed due to the lockdown, resulting in zero sales for all real estate companies.  “There is zero interest from buyers and banks don’t want to sell in a discount,” said a source close to the development. The