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NCLAT upholds insolvency proceedings against Tulip Hotels over default of guarantees, ET RealEstate

On May 16, 2023, the Mumbai bench of National Company Law Tribunal (NCLT) had directed initiation of a Corporate Insolvency Resolution Process (CIRP) against Tulip Hotels over a plea filed by Yes Bank, claiming a default of Rs 900 crore for two corporate guarantees issued by it. ....

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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 bench s decision, which rejected the plea on technical grounds due to the small number of petitioners. ....

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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. ....

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