Mumbai Greenlights D S Kulkarni Developers' Resolution Plan

04 Jul 2023 CW Team

The Resolution Plan submitted by a consortium of Ashdan Properties, Classic Promoters and Builders, and Atul Builders for D S Kulkarni Developers has been approved by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT, comprising H V Subba Rao (Judicial Member) and Shyam Babu Gautam (Technical Member), adjudicated a petition filed in Bank of Maharashtra v D S Kulkarni Developers. As per the approved Resolution Plan, the Homebuyers of the projects of the Corporate Debtor will receive flats in lieu of their claim amount.

Background facts

It was disclosed that D S Kulkarni Developers ("Corporate Debtor") is a company involved in real estate development in Pune, Mumbai, Bengaluru, Nasik, and New Jersey, USA.

The Corporate Debtor's ongoing projects in Pune consist of DSK Vishwa Phase VI Anandghan, DSK Mayurban, DSK Nandanvan, DSK Gold Leaf, DSK Dream City - Waterfall Residence, and DSK Madhukosh in Mumbai.

On September 26, 2019, the NCLT initiated the Corporate Insolvency Resolution Process ("CIRP") against the Corporate Debtor. Manoj Kumar Agarwal was appointed as the Resolution Professional.

A Consortium composed of Ashdan Properties, Classic Promoters and Builders, and Atul Builders ("Successful Resolution Applicant/SRA") submitted a Resolution Plan for the Corporate Debtor, which was approved by the Committee of Creditors ("CoC") with a majority voting share of 83.37%. Subsequently, the Resolution Professional filed an application under Section 30(6) of IBC before the NCLT, seeking approval of the Resolution Plan.

Also read:
Final layout for legalisation of colonies in the Indore pub
Shivalik Group achieves sales in GIFT City

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..