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parsvnath landmark: NCLAT rejects insolvency plea against Parsvnath Landmark Developers

The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea by four unit buyers of Parsvnath Landmark Developers to initiate insolvency proceedings against the subsidiary. The tribunal upheld the Principal benchs decision, which rejected the plea on technical grounds due to the small number of petitioners.
Justice Ashok Bhushan Parsvnath Landmark Developers National Company Law Appellate Tribunal Supreme Court National Company Law Tribunal Parsvnath Landmark

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NCLAT rejects insolvency plea against Parsvnath Landmark Developers, ET RealEstate

Parsvnath Landmark Developers: The appellate tribunal upheld the orders of the Principal bench of the National Company Law Tribunal (NCLT), which on October 17, 2023, rejected their plea on technical grounds as the number of petitioners was only four, while the total number of allottees by Parsvnath Landmark is 488.
Justice Ashok Bhushan Parsvnath Landmark Developers Supreme Court National Company Law Tribunal National Company Law Appellate Tribunal Parsvnath Landmark

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