PARSVNATH DEVELOPERS LIMITED AND ANOTHER vs UNION OF INDIA AND OTHERS

CWP No.37530 of 2026 -1- IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH 110 CWP No.37530 of 2026 Date of decision: July 13th, 2026 Parsvnath Developers Limited and another .....Petitioners Versus Union of India and others .....Respondents CORAM: HON'BLE MR. JUSTICE VIKAS BAHL HON'BLE MR. JUSTICE SUBHAS MEHLA Present: Mr. Shekhar Verma, Advocates for the petitioners. VIKAS BAHL, J. (ORAL) 1. In the present writ petition, the primary challenge has been made to the order dated 01.07.2024 (Annexure P-12) as well as the order dated 15.09.2025 (Annexure P-16) both of which have been passed by the Haryana Real Estate Regulatory Authority, Panchkula and against which, it is not disputed that an appeal is maintainable under Section 43(5) of the Real Estate (Regulation and Development) Act, 2016. 2. Learned counsel for the petitioners has submitted that insolvency proceedings have been initiated against the petitioners and the Interim Resolution Professional has already been appointed vide order dated 30.04.2026 and the Resolution Professional has also been appointed and it is only the Resolution Professional, who has to pursue the present petition. It is submitted that the present peti