Oberoi Realty, US-based fund Interups to bid for cash-strapped Lavasa

Mumbai-based Oberoi Realty and US-based fund Interups have joined the race to acquire Lavasa Corporation, a real estate city near Mumbai. Lavasa is facing bankruptcy proceedings at the National Company Law Tribunal (NCLT) Mumbai after it failed to repay debt of Rs 6,200 crore. During the creditors meeting held in early January, the lenders had decided to place fresh expressions of interest (EoIs) before the NCLT. At the hearing on Monday, the NCLT agreed to consolidate the bankruptcy proceedings of Lavasa and its subsidiaries into a single resolution, so as to get the best value of.....

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