M/s Param Renewable Energy Private Limited is a Private Limited Company and was incorporated on 04th Dec, 2019. The Corporate Identification Number (CIN) of the company as per the official records is U74999GJ2019PTC105888. The registered office address of the Company is 15th Floor, A Block, Westgate Business Bay, S G Road, Ahmadabad City, Gujarat, India - 380051. Its authorized share capital is Rs. 15,00,000 and paid-up capital is Rs. 15,00,000. The company is duly registered with Registrar of Companies, Ahmedabad (ROC - Ahmedabad) and is classified as a Non-Government Company.
M/s Param Renewable Energy Private Limited was engaged in the business of operation and maintenance of solar projects and consulting and EPC of solar projects. It is also engaged in providing maintenance and repair services of electrical machinery and apparatus.
The snapshot about the corporate debtor is summarized as below:
| Name of the Corporate Debtor | Param Renewable Energy Private Limited |
| CIN | U74999GJ2019PTC105888 |
| PAN | AAKCP2829D |
| Registered Address: | 15th Floor, A Block, Westgate Business Bay S G Road, Ahmadabad City, Gujarat, India - 380051 |
| Company’s Email as per ROC | cs@paramrenewable.com |
| Date of Incorporation | 04-01-2019 |
| Authorized Capital | 15,00,000 |
| Paid Up Capital | 15,00,000 |
| Type of Entity | Private Limited Indian Non-Government Company |
| Listing Status | Unlisted |
| Date of Last AGM | 30 Sep, 2023 |
| Industry | Maintaining Services |
| Segment(s) | EPC, BoP and BTG |
| CIRP Initiation date | 21.04.2026; (CP (IB) No. 53/(AHM)/2026) |
BOARD OF DIRECTORS OF THE CORPORATE DEBTOR (POWERS SUSPENDED)
The powers of the Board of Directors of the corporate debtor have been suspended due to initiation of the Corporate Insolvency Resolution Process (CIRP) of corporate debtor and now has been vested with the Interim Resolution Professional. The board of directors as on Insolvency commencement date are as follows:
| Name of Director | DIN | Designation |
| Puneet Singh Jaggi | 02479868 | Director |
| Anmol Singh Jaggi | 01293305 | Director |
Background of CIRP Proceedings before Hon’ble NCLT, Ahmedabad
ICICI Bank (Financial Creditor/ Petitioner) sanctioned various Credit facilities aggregating to Rs. 30,00,00,000/- to the Corporate Debtor vide Credit Agreement letter No. CAL83098886372 dated 17.07.2024 and the Corporate Debtor executed requisite facility agreements and security documents.
Thereafter, defaults occurred in repayment obligations and subsequently, a recall notice dated 16.06.2025 was issued calling upon the Corporate Debtor to repay the outstanding dues, however, the Corporate Debtor failed to regularize the account. As per the record of default filed with the Information Utility, default was recorded on 31.05.2025. Ultimately, the account was classified as NPA on 21.07.2025. A total amount of Rs. 15,24,46,795.47 is claimed to be in default as of 2nd February, 2026.
Consequently, an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 was filed by ICICI Bank Limited, bearing CP(IB) No. 53/7/AHM/2026, seeking initiation of CIRP against Param Renewable Energy Private Limited, before the Hon’ble NCLT, Ahmedabad Bench.
Accordingly, vide Order dated 21.04.2026, the Hon’ble NCLT, Ahmedabad Bench admitted the petition, initiated CIRP against the Corporate Debtor and declared moratorium under Section 14 of the Code.
Further, vide the abovementioned order, the Hon’ble NCLT appointed Mr. Khushvinder Singhal, bearing Registration No. IBBI/IPA-002/IP-N00888/2019-2020/12833, as the Interim Resolution Professional (IRP).
Status of Operations as on CIRP Commencement Date
As on the CIRP commencement date, the operations of the Corporate Debtor were non-operative.
The IRP visited the registered office of the Corporate Debtor on 28.04.2026; however, during the visit, it was found that no registered office existed at the given address. Accordingly, the IRP contacted the Director (whose powers are suspended), who informed that he is residing in Mumbai and that all the records are maintained there.
Claims Submission & Creditors' Process
In compliance with the prescribed timeline, the Interim Resolution Professional (IRP) has issued a public announcement inviting claims from all the creditors of the above-named Corporate Debtor. The announcement was published on April 24, 2026, in four newspapers — Financial Express ("English & Gujrati Edition") circulated at Gujrat and Financial Express ("English & Jansatta Hindi Edition") circulated at Delhi NCR.
Following Documents are uploaded on this web page:
1. CIRP Admission Order
2. Public Announcement
3. Claim Forms
Contact Details for Stakeholders
For any correspondence or queries related to the CIRP process, please contact the following
Mr. Khushvinder Singhal
Interim Resolution Professional
In the matter of M/s Param Renewable Energy Private Limited
Reg. No. IBBI/IPA-002/IP-N00888/2019-2020/12833
(AFA valid till 31-12-2026)
Regd. Address with IBBI: House no. 399, Sector 12-A, Panchkula, Haryana - 134112
Email Regd. with IBBI – kvsinghal@gmail.com
Email For Correspondence - cirp.paramrenewable@gmail.com