Tag: Yogayatan Group

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Valor Estate Might Seek NCLT Review of Lavasa Offer

MUMBAI: Valor Estate is poised to submit a petition to the Mumbai National Company Law Tribunal (NCLT), seeking permission to revise its resolution plan for Lavasa Corp. This move comes after the tribunal recently allowed the Welspun-Ashdan Developers consortium to amend its payment schedule. Valor’s petition follows a week of rapid developments wherein the Welspun-Ashdan consortium emerged as the frontrunner for the takeover due to its modified payment timeline. The committee of creditors voted on three resolution plans, including one from the Yogayatan Group, on Wednesday. During a hearing regarding another application submitted by Anuj Goyal, Valor’s legal team raised…

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Yogayatan Appeals to NCLT on Revised Lavasa Bid Approval

The Yogayatan Group, based in Mumbai, has lodged a petition with the National Company Law Tribunal (NCLT) opposing creditors’ decision to permit revised resolution plans for the financially troubled Lavasa Corp. According to **RealtyDailyNews** on August 1, Yogayatan emerged as the highest bidder with a bid of ₹795 crore based on net present value (NPV) after bidders were given a chance to enhance their offers following the initial round of bidding last month. However, after the bids were revealed, Valor Estates (formerly DB Realty), which did not submit a revised bid, indicated it wanted to raise its offer. This Mumbai-based…

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Lavasa’s Rebids Approved as Creditors Extend Timeline

Creditors of the financially troubled Lavasa Corporation have opted to prolong the resolution timeline, allowing bidders another opportunity to enhance their bids for the real estate project. This extension was prompted by Valor Estate, which submitted an improved proposal after the initial deadline, according to sources familiar with the situation. Lenders plan to reconvene on Friday to determine the new deadline for all bidders, likely extending it by two months from the original August 29 deadline, they indicated. “Following extensive discussions, the lenders have agreed that the Valor bid should be considered, necessitating another chance for other bidders to adjust…

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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,…