CFM ARC Files ₹504.8 Cr Pyramid Realtors Insolvency Petition

CFM Asset Reconstruction filed a ₹504.80 crore insolvency petition against Pyramid Realtors under Section 7 of IBC 2016.
The petitioner served advance notice and filed default information with NeSL, claiming assignment of a term loan.
The NCLT directed the petitioner to serve notice and granted the corporate debtor 7 days to file a reply.
The matter is listed for further consideration on July 7, 2026, with potential ex-parte proceedings if no reply is filed.