Darwin Platform Infrastructure, a conglomerate with a portfolio of more than 21 companies operating across 11 nations, has received authorization from the National Company Law Tribunal (NCLT) to acquire Lavasa, India’s inaugural artificial hill station. Founded in the year 2010, the firm is helmed by the entrepreneur Ajay Harinath Singh.
Lavasa, situated approximately 180 kilometers away from Mumbai and in close proximity to Pune, nestles within the picturesque Mulshi valley of the Western Ghats. Encompassing an expansive 20,000 acres of land, this pioneering hill station holds historical significance as the foremost of its kind in India.
In a transaction valued at Rs 1814 crore, Ajay Harinath Singh’s firm is set to embark on the development of Lavasa. With a net worth of Rs 68,796 crore, Singh stands as the chairman of the conglomerate, boasting a diverse array of interests spanning retail, infrastructure, refineries, finance, and hospitality, among others. The group’s total valuation stands at an impressive 8.4 billion dollars, and it is noteworthy that all companies under Singh’s leadership operate without any outstanding debts.
Singh, an alumnus of Mumbai University, has cast his business endeavors far and wide, overseeing operations in multiple countries across the globe. His association with ventures such as Jet Airways, Air India, the Shipping Corporation of India, and even expressing interest in Anil Ambani’s Reliance Capital underscores his entrepreneurial acumen and far-reaching vision.
Expressing his commitment to the monumental task ahead, Singh remarked, “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.”
Currently residing in Mumbai, Ajay Harinath Singh holds the distinction of being the sole entrepreneur in India to own a hill station. Apart from his engagement in Lavasa’s development, Singh’s professional journey also encompasses involvement in the sale of Russian warplanes to international markets, ownership of an oilrig, and a presence in the film industry.
With this acquisition, Darwin Platform Infrastructure is poised to reshape the landscape of Lavasa and contribute to its promising future, demonstrating their unwavering commitment to progress and transformation in India.