Tag: Darwin Platform Infrastructure

IndustryLatest Stories

Axis Bank to Sell ₹511-Crore Lavasa Corp Debt

Axis Bank has become the first creditor to seek buyers for its outstanding exposure to the financially troubled Lavasa Corp, while other lenders are still evaluating their options due to the ongoing litigation issues tied to the resolution process. On Monday, Axis Bank listed its ₹511 crore claims for sale with a reserve price of ₹80 crore, available on an all-cash basis. As the fifth-largest creditor to the distressed private hill city, Axis is actively soliciting expressions of interest (EoIs) from asset reconstruction companies (ARCs), non-banking finance companies (NBFCs), and other financial institutions. The deadline for submitting documents is November…

IndustryLatest Stories

Yogayatan Group from Mumbai Raises Bid for Lavasa, Tops List

Representative image created by AI The Mumbai-based Yogayatan Group has placed the highest bid for the financially troubled Lavasa Corporation, raising its offer to ₹795 crore on a net present value (NPV) basis, up from ₹725 crore. After the initial bidding round earlier this month, bidders were given a chance to enhance their proposals. Yogayatan’s substantial increase in its bid surpasses Valor Estates’ offer of ₹771 crore, which did not change in the latest round. The third competitor, Welspun Group, also raised its bid to ₹785 crore on an NPV basis, up from ₹750 crore in the first round. “Currently,…