Lavasa will not file for bankruptcy, says HCC chief
Updated : May 04, 2018 10:17 AM IST
Lavasa was reportedly filing for bankruptcy. The buzz came in March when DNA had reported it. Gulabchand, however, clarified that the company is not filing for bankruptcy for Lavasa subsidiary as it will only give Lavasa a second chance for resolution.
The Hindustan Construction Company (HCC) has been troubled in the market lately due to Lavasa, its subsidiary company, financial health.
He reiterated that Lavasa, as a project, will not close down. "As Lavasa picks up concerns with respect to the value of all its subsidiaries, it will rise again. The change in the financial structure of Lavasa will revive all its subsidiaries."