Luxury township Lavasa Corporation has been referred to the National Company Law Tribunal (NCLT) for insolvency proceedings by its operational creditors on Thursday.
NCLT has appointed Devendra Prasad as Interim Resolution Professional under the provisions of the IBC, parent company HCC informed the stock exchanges.
The National Company Law Tribunal vide its order dated 30/08/2018 has admitted a plea filed by operational creditors who initiated Corporate Insolvency Resolution Process (CIRP) against Lavasa Corporation Limited under the Insolvency and Bankruptcy Code 2016 (IBC), HCC said in the filing.
Lavasa Corporation Ltd is jointly held by Hindustan Construction Company Limited HCC (68.7 percent), Avantha Group (17.1…
Read the full article at: https://www.moneycontrol.com/news/business/creditors-take-hccs-lavasa-corporation-to-insolvency-court-2900561.html