The present petition was filed by M/s Metcalfe Properties Private Limited, the Corporate Applicant, on 13.09.2025 under Section 10 of the Insolvency and Bankruptcy Code, 2016 for initiation of Corporate Insolvency Resolution Process (CIRP) against itself. The application was filed through its Director, Nishant Gupta, authorized vide Board Resolution dated 04.06.2025.
M/s Metcalfe Properties Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016 for initiation of CIRP against itself.
The application was filed on 13.09.2025 through its Director, Nishant Gupta, authorized vide Board Resolution dated 04.06.2025.
The Corporate Applicant was incorporated on 26.09.2002 and is engaged in real estate development, property acquisition, and infrastructure construction.
The Company has a significant operational liability pertaining to dues payable to the Amritsar Development Authority (ADA) in respect of the Corporate Debtor's residential project “Metcalfe Nirvana”.
The Corporate Debtor has not deposited the required External Development Charges (EDC) and license fee, aggregating to ₹34,65,24,000/-.
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M/s Metcalfe Properties Private Limited…
Board Resolution passed…
The present petition was filed by M/s Metcalfe Properties Private Limited, the Corporate Applicant, on 13.09.2025 under Section 10 of the Insolvency and Bankruptcy Code, 2016 for initiation of Corporate Insolvency Resolution Process (CIRP) against itself. The application was filed through its Director, Nishant Gupta, authorized vide Board Resolution dated 04.06.2025.
M/s Metcalfe Properties Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016 for initiation of CIRP against itself.
The application was filed on 13.09.2025 through its Director, Nishant Gupta, authorized vide Board Resolution dated 04.06.2025.
The Corporate Applicant was incorporated on 26.09.2002 and is engaged in real estate development, property acquisition, and infrastructure construction.
The Company has a significant operational liability pertaining to dues payable to the Amritsar Development Authority (ADA) in respect of the Corporate Debtor's residential project “Metcalfe Nirvana”.
The Corporate Debtor has not deposited the required External Development Charges (EDC) and license fee, aggregating to ₹34,65,24,000/-.
…M/s Metcalfe Properties Private Limited…
Board Resolution passed…