The case involves M/s. Prem Sagar Garg as the petitioner and M/s. Parsvnath Developers Ltd. as the respondent. The matter is being heard before the New Delhi Bench of the National Company Law Tribunal (NCLT) and pertains to Section 7 of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor's counsel has submitted directions from the Hon'ble Apex Court in Writ Petition No. 147/2019, which granted a stay against further proceedings before the NCLT. Consequently, the NCLT has adjourned the matter Sine-die, allowing for its revival based on the Apex Court's final decision in the writ petition. The key fact is the stay order from the Apex Court, which directly impacts the NCLT proceedings.

The case involves M/s. Prem Sagar Garg as the petitioner and M/s. Parsvnath Developers Ltd. as the respondent. The matter is being heard before the New Delhi Bench of the National Company Law Tribunal (NCLT) and pertains to Section 7 of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor's counsel has submitted directions from the Hon'ble Apex Court in Writ Petition No. 147/2019, which granted a stay against further proceedings before the NCLT. Consequently, the NCLT has adjourned the matter Sine-die, allowing for its revival based on the Apex Court's final decision in the writ petition. The key fact is the stay order from the Apex Court, which directly impacts the NCLT proceedings.