 "Lavasa")
The lenders to Lavasa Corporation — the company developing a hill city near Pune — will invite fresh bids for the debt-laden firm and its 49 subsidiaries, after the National Company Law Tribunal (NCLT) decided to have a single consolidated resolution plan for all of them.
Lavasa and its subsidiaries defaulted on their debt obligations totalling about Rs 7,700 crore, which led the lenders to send the company to the NCLT for debt resolution in August 2018.
“All the previous bidders for Lavasa may not have the financial strength to take over Lavasa and its subsidiaries at the same time.
