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

Mumbai-based real estate firm Oberoi Realty and US-based fund Interups Inc have joined the race to acquire Lavasa Corporation, a real estate city near Mumbai. Lavasa is currently facing bankruptcy proceedings in the National Company Law Tribunal (NCLT) Mumbai after it failed to repay debt worth Rs 6,200 crore.

During the committee of creditors (CoC) meeting held in early January, the lenders had decided to place fresh expressions of interest (EoIs) before the NCLT. At the hearing held on Monday, the NCLT agreed to consolidate the bankruptcy proceedings of Lavasa and its …

Source: Business Standard