Considering All Options To Revive Lavasa, HCC Says
Hindustan Construction Co. Ltd. is exploring all options to resolve concerns regarding its subsidiary Lavasa, Chairman and Managing Director Ajit Gulabchand said.
Lavasa, which is constructing a hill-station township project near the city of Pune, has defaulted on dues payable to bondholders and also has delayed repayment to other creditors including banks, the company said in an exchange filing. The firm and its units are working with lenders on a resolution plan and are reassessing the business plan, Gulabchand said.
He said some new investors have shown interest in Lavasa. "If there is interest, we will certainly consider selling it," he said.