Promoted by HCC, Lavasa was set up as a picturesque hill station near Pune in Maharashtra in 2000. It defaulted on Rs 4,150 crore in loans to banks
Election Commissioner Ashok Lavasa, who served as a finance secretary under former finance minister Arun Jaitley, on Saturday said working with him was a great learning experience. Condoling the demise of the former Union minister, he said Jaitley was an "affable minister, extremely sharp, sensible and sagacious". "Working with him as FS was a great learning experience. He was patient, pragmatic, positive, knowledgeable & a great raconteur. Rest In Peace;the deficit is unbridgeable Sir," Lavasa tweeted. He said it was a privilege to be a part of his team and be his finance secretary. "His leadership was never imposing as he led with his wit and charm. God bless his soul and may his legacy live on," the election commissioner wrote in his tweet. Jaitley, 66, died at AIIMS here on Saturday morning after being admitted on August 9 following complaints of breathlessness and restlessness.
Some residents have expressed that neither Lavasa Corporation nor HCC take their complaints seriously
In Lavasa the developer must provide basic services like water and electricity, as well as security and other amenities
The Lavasa civic body is privately managed so residents have little access to its functioning or fund management
In a regulatory filing, HCC's realty arm Lavasa informed that lenders have decided to invoke SDR
In the concluding part of a five-part series, Business Standard finds out why Lavasa, a private initiative, is a long way from realising its potential