The Allahabad High Court has struck down Regulation 5A of Central Electricity Regulatory Commission (Terms and Conditions of Tariff) (First Amendment), Regulations, 2006 to the extent it provides 6%.
Union Bank: Creditors invoked a guarantee due to CIRP non-compliance, halting the Lavasa project. Legal battles continue as lenders lose confidence in the resolution applicant. NCLT and NCLAT petitions are pending, with DPIL seeking more time.
Creditors invoked a guarantee due to CIRP non-compliance, halting the Lavasa project. Legal battles continue as lenders lose confidence in the resolution applicant. NCLT and NCLAT petitions are pending, with DPIL seeking more time.
This is the second bank objection to the loan default resolution of Lavasa Corporation, billed as the first private hill town project to be built since Independence.
This is the second bank objection to the loan default resolution of Lavasa Corporation, billed as the first private hill town project to be built since Independence. It comes almost two years after creditors approved the plan overwhelmingly in December 2021 and months after the NCLT gave its nod in July this year.