NCLAT Dismisses Insolvency Petition Against Parsvnath Landmark Developers

15 Apr 2024 CW Team

The National Company Law Appellate Tribunal (NCLAT) has dismissed an insolvency petition filed against Parsvnath Landmark Developers, signalling a legal victory for the real estate developer. This decision underscores the tribunal's assessment of the case and its determination to uphold fair and transparent insolvency proceedings.

The rejection of the insolvency plea provides relief to Parsvnath Landmark Developers and affirms the company's financial stability and viability. It reflects the tribunal's scrutiny of insolvency petitions and adherence to due process in resolving disputes within the real estate sector.

The dismissal of the insolvency petition is a significant development for Parsvnath Landmark Developers, as it removes the cloud of uncertainty and potential disruption to its business operations. The company can now focus on its core activities and pursue its growth objectives without the spectre of insolvency proceedings looming over its operations.

The NCLAT's decision also underscores the importance of robust legal mechanisms in safeguarding the interests of stakeholders and ensuring the orderly resolution of disputes in the real estate industry. By adjudicating insolvency petitions judiciously, the tribunal reinforces investor confidence and promotes a conducive environment for business growth and investment.

As Parsvnath Landmark Developers emerges from the insolvency proceedings unscathed, the company can leverage this outcome to strengthen its position in the real estate market and pursue its strategic objectives with renewed confidence. The NCLAT's dismissal of the insolvency plea reaffirms the company's resilience and underscores its commitment to delivering value to stakeholders amidst challenging circumstances.

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..