Parsvnath Developers Limited has informed the Exchange about Submission of Public Announcement-Corporate Insolvency Resolution Process
PARSVNATH · price
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The National Company Law Tribunal (NCLT), Court II, New Delhi has admitted the Corporate Insolvency Resolution Process (CIRP) for Parsvnath Developers Limited. The insolvency proceedings commenced on April 30, 2026 (with the order received on May 12, 2026) under Company Petition No. IB NO. 468/PB/2024. Manoj Kumar Anand has been appointed as the Interim Resolution Professional. All creditors have been called upon to submit their claims by May 27, 2026. The estimated closure date for the resolution process is October 27, 2026. Allottees under all real estate projects of the company have been identified as a class of creditors.
This is a highly negative development for shareholders as the admission of CIRP means the company is currently under formal insolvency proceedings. The stock is likely to remain under severe pressure and may be suspended or delisted if a viable resolution plan is not approved within the 180-day timeframe.