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). NCLT has appointed Mr. Devendra Prasad as Interim Resolution Professional under the provisions of the IBC.
Lavasa Corporation Limited (Lavasa) is jointly held by Hindustan Construction Company Limited (68.7%), Avantha Group (17.18%), Venkateshwara Hatcheries (7.81%) and Mr. Vithal Maniar (6.29%).
Source : BSE – www.bseindia.com
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