- ₹1,914 cr of liability was claimed by DPIL in end-FY21
- ₹6,412 cr worth of dues is owed by Lavasa to financial creditors
The home buyers of Lavasa Corporation have alleged fudging of financial statements by Darwin Platform Infrastructure Ltd (DPIL), the company that won the bid to acquire Lavasa after completion of a resolution process. The home buyers allege this happened when DPIL submitted the resolution plan for Lavasa two years ago.
An affidavit to this effect was filed by Mukesh Mangale along with 135 more home buyers of Lavasa (there are in all 1,100 home buyers) in the Mumbai National Company Law Apellate Tribunal (NCLAT) on 27 November, which Mint has seen along with other relevant documents.
In the affidavit, the home buyers alleged that DPIL showed assets worth ₹4,167.5 crore at the end of fiscal year 2021 in the resolution plan as against only surplus of profit and loss account worth ₹10.7 crore in its filings with the ministry of corporate affairs (MCA).
Conversely, the affidavit states the company claimed a liability of ₹1,914 crore at the end of fiscal year 2021 in its resolution plan, when the actual liability stood at ₹8,290 crore in the MCA filings.
Denne historien er fra December 11, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 11, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
India in economic sweet spot, inflation to moderate: Moody's
India's economy is in a sweet spot and its inflation is expected to moderate despite a temporary spurt, Moody's said, projecting optimism about the country's growth prospects despite recent underwhelming data.
Incentive engine to drive modern ships
Subsidies for green, high-tech ships under ₹18,000 cr policy
Cement firms wage war on costs as competition soars
India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.
Saudi Arabia doesn’t have enough money for its futuristic city
The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed, and in recent days the world’s largest construction project replaced its chief executive of six years.
EV adoption is a marathon, not a sprint: Audi India
The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.
India's trade gap with China soars in Apr-Oct
The country's green transition increases reliance on Chinese imports
14 nations eye India's generic drug model
Countries will specify their requirements, with HLL and MEA coordinating with them for the pharma exports
India urges $1.3 tn annual climate grant
Intervening on behalf of like-minded developing countries (LMDCs), India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal (NCQG) till 2030.
Over 600 mn cyberattacks daily, AI can secure devices
Microsoft is developing a password-free authentication process to eliminate the risk of breaches
Small businesses ramping up cybersecurity, thanks to AI
Rising AI adoption is helping cybersecurity providers hike their marketable base in India
