NCLT Denies Promoters' Plan for Wadhwa Buildcon
Real Estate

NCLT Denies Promoters' Plan for Wadhwa Buildcon

The National Company Law Tribunal (NCLT) has declined the resolution plan proposed by the promoters of Wadhwa Buildcon in an insolvency matter. This decision comes as a setback for the promoters, highlighting the challenges they face in resolving the financial issues surrounding the company.

The rejection of the promoter's resolution plan underscores the NCLT's scrutiny of proposals aimed at reviving insolvent companies. The tribunal's decision reflects its commitment to ensuring transparency and adherence to insolvency resolution processes, thereby safeguarding the interests of creditors and stakeholders.

According to sources, the NCLT found deficiencies in the promoter's resolution proposal, leading to its dismissal. The tribunal's decision emphasises the importance of submitting comprehensive and viable resolution plans that address the concerns of all stakeholders involved.

The ruling by the NCLT underscores the complexities involved in navigating insolvency proceedings and underscores the need for promoters to formulate robust and credible resolution plans. In the absence of a viable proposal, the fate of Wadhwa Buildcon remains uncertain, leaving creditors and other stakeholders in a state of uncertainty.

The rejection of the promoter's resolution plan by the NCLT highlights the challenges faced by companies grappling with insolvency issues and underscores the importance of adherence to established insolvency resolution frameworks. As the matter progresses, stakeholders will closely monitor developments to determine the future course of action for Wadhwa Buildcon.

The National Company Law Tribunal (NCLT) has declined the resolution plan proposed by the promoters of Wadhwa Buildcon in an insolvency matter. This decision comes as a setback for the promoters, highlighting the challenges they face in resolving the financial issues surrounding the company. The rejection of the promoter's resolution plan underscores the NCLT's scrutiny of proposals aimed at reviving insolvent companies. The tribunal's decision reflects its commitment to ensuring transparency and adherence to insolvency resolution processes, thereby safeguarding the interests of creditors and stakeholders. According to sources, the NCLT found deficiencies in the promoter's resolution proposal, leading to its dismissal. The tribunal's decision emphasises the importance of submitting comprehensive and viable resolution plans that address the concerns of all stakeholders involved. The ruling by the NCLT underscores the complexities involved in navigating insolvency proceedings and underscores the need for promoters to formulate robust and credible resolution plans. In the absence of a viable proposal, the fate of Wadhwa Buildcon remains uncertain, leaving creditors and other stakeholders in a state of uncertainty. The rejection of the promoter's resolution plan by the NCLT highlights the challenges faced by companies grappling with insolvency issues and underscores the importance of adherence to established insolvency resolution frameworks. As the matter progresses, stakeholders will closely monitor developments to determine the future course of action for Wadhwa Buildcon.

Next Story
Real Estate

IHCL Signs New Vivanta Hotel in Anjuna, Goa

Indian Hotels Company (IHCL), India’s largest hospitality company, has announced the signing of a new Vivanta hotel in Anjuna, Goa, strengthening its presence in one of the country’s top leisure destinations. The 110-key greenfield project is being developed in partnership with Fiesta Hotels Pvt Ltd, marking their second collaboration in the state. Strategically located in Anjuna, a coastal hub known for its vibrant beaches and bohemian charm, the hotel will feature an all-day diner, bar, swimming pool, gym, and modern conferencing facilities to cater to leisure and business traveller..

Next Story
Resources

91Springboard Bolsters Leadership Team with Four Appointments

91Springboard, one of India’s leading flexible workspace providers, has strengthened its leadership team with four strategic appointments aimed at accelerating business growth and enhancing member experience. The company has named Niroopa Padmanabhan as Chief Design Officer, Prashant Nair as Director – Sales, Bindu Nambiar as General Manager – Account Management & Alliances, and Tarun Dhawan as General Manager – Sales & Leasing. These appointments align with 91Springboard’s continued focus on customer-centricity, innovation, and expansion across India’s evolving flexib..

Next Story
Real Estate

SOBHA Launches First Luxury Project in Greater Noida

SOBHA, India’s leading real estate developer renowned for its construction quality, has launched its debut project in Greater Noida: SOBHA Aurum, a premium residential development in Sector 36. The project has received RERA approval (RERA No: UPRERAPRJ361748/06/2025) and is set to redefine luxury living in the region. Spread across 3.46 acre (14,001 sq m) with a development potential of 9.3 lakh sq ft, SOBHA Aurum comprises two architecturally distinctive towers, including the tallest residential tower in the vicinity at 45 floors, alongside a 35-storey tower. Together, they will offer ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?