India's First Private Hill Station Lavasa Sold To Darwin Platform For Rs 1814 Cr

Category : Business and economics Published on: July 26 2023

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India's first private hill station Lavasa was sold to Darwin Platform Infrastructure for Rs 1.8 thousand crore after the approval of the National Company Law Tribunal (NCLT).
The resolution plan of Darwin Platform Infrastructure has been accepted by the NCLT and includes payment of Rs 1,814 crore.
This payment includes Rs 929 crore to be paid to lenders and Rs 438 crore allocated to provide fully constructed houses to 837 approved home owners.
The primary objective of Darwin Platform Infrastructure's resolution plan is to address claims of home buyers and ensure delivery of completed homes within five years, subject to obtaining environment clearance, with a total claim amount of Rs 6,642 crore.
Lavasa Hill Station is situated in the picturesque Mulshi Valley within the Western Ghats near Pune.
It was established in 2000 by the Hindustan Construction Company, becoming India's first private hill town.