Lenders of Lavasa Corporation will on October 31 decide among three offers for the company, including one by Haldiram Snacks, the Business Standard reported.
The other offers were made by Pune-based builder Aniruddha Deshpande, and UV Asset Reconstruction Company (UVARC).
A consortium comprised of Haldiram, Pioneer Factor IT Infradevelopers, and Sansar Property, offered to purchase 100 percent of Lavasa for Rs 2,046 crore.
Moneycontrol could not independently verify the report.
The consortium that includes Haldiram has previously helped revive companies such as Bakemans Industries, Kwality, and Temptation Foods.
Promoted by the Hindustan Construction Company (HCC), Lavasa was dragged to the National Company Law Tribunal (NCLT) in August 2018 after it defaulted on loans worth Rs 4,150 crore.
Lavasa began as a hill station near Pune in 2000 but was stopped in 2010 by the Environment Ministry.
Deshpande, who was one of the original promoters of Lavasa and sold his stake to HCC, offered Rs 250 crore. He has not yet specified the source of his funds, the paper quoted a source say.
Deshpande currently owns Pune-based realty firm City Corporation.
UVARC has been involved in turning around companies such as Majestic Hotels, Mitra Gyan Shiksha Samiti, and Tea Exchange Bharat.
"The new investor would require an additional investment of Rs 10,000 crore to revive the project," a source told the publication.
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