NCLT admits plea against Parsvnath

New Delhi: The National Company Law Tribunal (NCLT) has admitted the insolvency plea against Parsvnath Landmark Developers, filed by three of its flat builders, for inordinate delay and non-refund of their payment. The tribunal has also appointed Yash Jeet Basrar, an interim resolution professional (RP), to run the corporate insolvency resolution process of Parsvnath Landmark Developers, a subsidiary of real estate firm For Parsvnath Developers.