STCI Finance Limited initiated insolvency proceedings against Parinee Developers Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The matter was heard by the Mumbai Bench-II of the NCLT on multiple dates: 02.01.2020, 06.02.2020, and 02.03.2020. A praecipe was filed by the Financial Creditor's Counsel, Ms. Ferzana Z Behramkamdin, on 25.07.2020, seeking correction of the names of Counsel who appeared for various parties. The NCLT admitted the petition on 09.06.2020. Mr. Rohit Gupta appeared for the Shah Group, and Ms. Prachi Wazalwar appeared for the Patel Group, both representing shareholder-directors of the Corporate Debtor. The NCLT noted that the matter of service of affidavit filed by the Patel Group was under appeal before the NCLAT.

STCI Finance Limited initiated insolvency proceedings against Parinee Developers Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The matter was heard by the Mumbai Bench-II of the NCLT on multiple dates: 02.01.2020, 06.02.2020, and 02.03.2020. A praecipe was filed by the Financial Creditor's Counsel, Ms. Ferzana Z Behramkamdin, on 25.07.2020, seeking correction of the names of Counsel who appeared for various parties. The NCLT admitted the petition on 09.06.2020. Mr. Rohit Gupta appeared for the Shah Group, and Ms. Prachi Wazalwar appeared for the Patel Group, both representing shareholder-directors of the Corporate Debtor. The NCLT noted that the matter of service of affidavit filed by the Patel Group was under appeal before the NCLAT.