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 Transport

19 Dec 2025

Tripura Rail Survey Approved For Jirania–Bodhjung Link

The Ministry of Railways has approved a Final Location Survey (FLS) for a proposed new railway line between Jirania and Bodhjung Nagar in Tripura. The planned section will span 14 km and is estimated to cost around Rs 4.2 million, with the entire alignment located within West Tripura district. The approval marks a key step towards strengthening railway infrastructure and supporting industrial growth in the state. Bodhjung Nagar is Tripura’s principal industrial and commercial hub, developed mainly for resource-based industries such as rubber, bamboo and food processing. The proposed Jirania..

MCF Raebareli Rolls Out Its 15,000th Passenger Coach

The Modern Coach Factory (MCF) in Raebareli, Uttar Pradesh, has reached a major production milestone with the manufacture of its 15,000th passenger coach on December 15, the Ministry of Railways said. During the current financial year 2025–26, the unit has produced a total of 1,310 coaches so far. Established in 2007 at Lalganj in Raebareli, MCF is among India’s most advanced passenger coach manufacturing facilities. Built at a cost of around Rs 31.92 billion, the factory has an installed annual capacity of 1,000 coaches and is located about 3 km from Lalganj on the Kanpur–Raebareli Roa..

RVNL Wins Gandak River Rail Bridge Contract

Rail Vikas Nigam Limited (RVNL) has received a Letter of Award from North Eastern Railway for a major railway infrastructure project valued at Rs 1.65 billion. The contract relates to the construction of the substructure for a key railway bridge over the Gandak River. The bridge will be constructed between Paniyahwa and Valmikinagar stations as part of the doubling of the Gorakhpur Cantt–Valmikinagar railway section. Designed to enhance capacity and operational efficiency, the structure will comprise 14 spans of 61 metres each and will be supported by double D-type well foundations. The des..