EoI for resolution of Golden Peacock Residence invited by 29 April
Golden Peacock Residence Private Limited, a real estate company developing the Michael Schumacher World Tower in Gurugram, has officially invited Expressions of Interest (EOI) from potential buyers and investors. The invitation, issued via Form G, marks a critical step in the company’s Corporate Insolvency Resolution Process (CIRP).
The company’s primary asset is its project site located at Sector 109, Dwarka Expressway, Gurugram, where a significant portion of its residential units remain unsold.
Project Status and Inventory
Data released by the Resolution Professional reveals that the development includes a major block with 110 sanctioned units, of which 64 units remain unsold. Additionally, 20 units sanctioned for the Economically Weaker Sections (EWS) are currently 100% unsold.
Critical Resolution Timeline
Interested applicants must adhere to the following schedule to participate in the bidding process:
| Event | Deadline / Date |
| Last Date for Receipt of Expression of Interest (EOI) | April 29, 2026 |
| Issue of Provisional List of Resolution Applicants | May 09, 2026 |
| Issue of Final List of Resolution Applicants | May 24, 2026 |
| Issue of Information Memorandum & Evaluation Matrix | May 29, 2026 |
| Final Deadline for Submission of Resolution Plans | June 28, 2026 |
Administration and Eligibility
The insolvency process is being managed by Ashish Singh, the court-appointed Resolution Professional. Financial statements for the last two years and detailed eligibility criteria under Section 25(2)(h) of the Insolvency and Bankruptcy Code (IBC) are available to prospective applicants upon request via the official process email.
Golden Peacock Residence is currently not registered as an MSME. All submissions and inquiries regarding the acquisition or revival of the company are directed to cirp.goldenpeacock@gmail.com
Background
The insolvency proceedings for Golden Peacock Residence Private Limited were initiated following a significant breach of contract regarding its luxury project, the “Michael Schumacher World Tower” in Gurugram. The process was triggered in 2018 when a homebuyer, Manjinder Singh Sandhu, filed a petition under Section 7 of the IBC after the developer failed to deliver his unit by the July 2016 deadline.
The National Company Law Tribunal (NCLT) admitted the case on November 6, 2019, rejecting the developer’s “Force Majeure” defenses involving contractor disputes and regulatory delays. The Tribunal ruled that a three-year delay constituted a fundamental breach, officially designating the homebuyer as a financial creditor entitled to seek a resolution process.
Also See: Sony Research India to shut operations; files for voluntary liquidation
Discover more from Insolvency Tracker
Subscribe to get the latest posts sent to your email.
