Vithal Maniar News Today

A revised plan was submitted after the tribunal had directed lenders of Lavasa Corp to consider an equitable distribution of proceeds from the sale of the township developer and its two units to winning bidder Darwin Platform Infrastructure.

The Mumbai bench of the National Company Law Tribunal (NCLT) Friday approved a revised and improved resolution plan submitted by Darwin Platform Infrastructure for the revival of Lavasa Corp., which was formed to build Indias first modern hill town after Independence.

The NCLT order gives relief to the mega private city project that has been mired in controversy for years; the buyer promises relief to the creditors and homebuyers