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Haldiram-led consortium offers Rs 2,125 crore bid for Lavasa Corporation

Posted by animaadmin on November 12, 2019
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A consortium led by Haldiram Snacks and another led by Pune-based developer Anirudha Deshpande have emerged as the main contenders for Lavasa Corporation — the entity developing a hill city near Pune of the same name. UV Asset Reconstruction company is also understood to have put in a bid.

The Haldiram-led consortium has offered Rs 2,125 crore against total claims of Rs 8,716 crore. Of this, Rs 1,646 crore would be repaid to banks and financial institutions who have claims of Rs 5,559 crore. 

Haldiram proposes to position the hill station as an education, tourist and holiday destination. The group has also given a break-up of what it will spend in meeting homebuyer claims. Haldiram has put in its bid along with Pioneer Facor IT Infradevelopers and Sanar Property.

Deshpande’s bid is for Rs 1,173 crore, of which Rs 1,120 crore is offered to institutional creditors. For home buyers, Deshpande has not assigned any value but has offered to construct and give possession of promised units after factoring in a cost escalation.

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