What would it be like to own a hill station? Well, there are only a few people who could understand that feeling and Ajay Harinath Singh is one such person. The Mumbai-based businessman made headlines after his firm, Darwin Platform Group of Companies, bagged the project to rejuvenate India’s first private hill station, Lavasa.
The National Company Law Tribunal (NCLT) permitted the company Rs 1,814 crore for the Lavasa resolution plan, aimed at bringing a turnaround to the fate of the Pune-based hill station that has been struggling with insolvency-related proceedings for the past several years. Lavasa Corporation, the real estate branch of HCC, filed for insolvency in 2018.
Located in the Mulshi Valley of Western Ghats in Pune, Lavasa is around 180 km from the country’s financial capital. The 20,000-acre project was the first privately developed city in the country.
The Ajay Harinath Singh-owned conglomerate aims to bring the Lavasa project back to life after years of hindrances caused by environmental clearance, land acquisition and other legal struggles.
The Lavasa rejuvenation plan is not the first such project where Singh and his company have taken up such an ambitious stride. Valued at over 8.4 billion dollars, the Darwin Platform Group of companies had previously bid forJey Airways, Air India and Shipping Corporation of India’s revival plan, reported Your Story.
With 21 companies under the banner, the group operates in 11 countries around the world. Singh’s companies are also involved in the business of warplanes, oil rigsand the film industry.
Reacting to NCLT’s approval for the Lavasa project, Singh, in a statement said, “The NCLT has entrusted us with a challenging task to develop an ambitious world-class smart city in the country. The verdict would reinforce our commitment to nation-building. Lavasa is now on the cusp of a remarkable resurgence. DPIL is committed to executing the plan as per the schedule proposed to the CoC. We are very eager to revitalise this ambitious project.”
Founded in 2009, the Darwin Platform Group of Companies have come a long way in less than 15 years. Their latest project is sure to garner attention from investors nor just in India but globally as well.
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