Pune builder ties up with US firm to bid for Lavasa project

Pune: City-based builder Aniruddha Deshpande, who has tied up with an US company, is among the bidders for the Lavasa hill station project.

According to sources, three firms have put up bids to take over the project. The final decision will be taken soon after they submit the resolution plan for further evaluation. The three firms that have bid for the project will have to meet the requirements and it is being assessed.

Deshpande confirmed the bid and said he had entered the bid in a partnership with InterUPS, a private equity firm based out New York. Sources said that Deshpande will act as an implementation partner and strategic investor. The team will also include some members of the hill station project, who will act as advisers. According to sources, the resolution plan will be submitted in the coming fortnight.

The other two bids have been by Royale Partners Investment Fund Ltd and UV Assets Reconstruction Company Ltd. AE three bidders are expected to submit a detailed resolution plan to take the project forward.

Citizens staying at Lavasa are hoping for state government intervention to understand their problems ahead of the bid finalization. The Central Public Grievance Portal (CPGRAMS) has directed the state government to address the grievances of Lavasa residents.

The department of administrative reforms and public grievances directed the state government to address the issue, terming it a state subject. Lavasa residents are having a diffcult time with the management of the private hill station under the Resolution Personnel (RP) appointed by National Company Law Tribunal for the last two years.

Source: https://timesofindia.indiatimes.com/city/pune/pune-builder-ties-up-with-us-firm-to-bid-for-lavasa-project/articleshow/79554456.cms