PARSVNATH DEVELOPERS LIMITED vs UNION OF INDIA & ANR.

Judgment text excerpt

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 22.09.2025 Judgment pronounced on: 23.09.2025 + CM(M) 1867/2025 & CM APPL. 60039/2025 PARSVNATH DEVELOPERS LIMITED .....Petitioner Through: Mr. Tanmay Mehta, Mr. Manoranjan Sharma, Mr. Arpit Dwivedi and Ms. Sakshi Kapoor, Advocates versus UNION OF INDIA & ANR. .....Respondents Through: Mr. Rajiv Nayar, Senior Advocate with Mrs. Meghna Mishra, Mr. Karan Luthra, Mr. Siddharth Joshi, Ms. Ujjwala Gupta and Mr. Shubham Madan, Advocates CORAM: HON'BLE MR. JUSTICE GIRISH KATHPALIA JUDGMENT 1. Petitioner, being the Corporate Debtor has assailed order dated 20.08.2025 of the learned National Company Law Tribunal, New Delhi Bench, (NCLT) whereby application filed by the Financial Creditor (respondent no.2 herein) under Section 7 of the Insolvency and Bankruptcy Code (“the Code”) for revival of the Company Petition was allowed. On service of advance notice, learned Senior Counsel for the Financial Creditor appeared to oppose the petition. At request of both sides, in the interest of CM(M) 1867/2025 Page 1 of 8 pages Digitally signed by GIRISH KATHPALIA DN: c=IN, o=HIGH COURT OF DELHI, GIRISH KATHPALIA 2.5.4.20=8401dd889b27a77b2f65ffffe4afec45569af3962c6fb4835d435f97626 cacca, ou=HIGH COURT OF DELHI,CID - 7047638, postalCode=110003, Signature Not Verified st=Delhi, serialNumber=d3e86796451ec45c07b5d15570996b40f80cbd2eee60402c487 965ff801e26fa, cn=GIRISH KATHPALIA Date: 2025.09.23 14:39:33 -07'00' Digitally Signed By:NEETU N NAIR Signing Date:23.09.2025 15:43:05 expeditious disposal of the proceedings pending before the NCLT, I heard final arguments on the same day. 2. At the outset, learned counsel for petitioner admitted that the order impugned in the present proceedings is assailable by way of an appeal before t