NewsPalais Royale clears another hurdle—but completion delays persist Nehal Chaliawala3 min read26 Dec 2025, 01:36 PM ISTLocated in Mumbai’s Worli area, Palais Royale received regulatory approval for construction in 2005. SummaryThe developer of Mumbai’s long-delayed Palais Royale has settled a creditor dispute at the NCLT, removing one obstacle even as the project remains unfinished and its regulatory registration has lapsed. MUMBAI: Honest Shelters Pvt. Ltd., the developer of Mumbai’s long-delayed Palais Royale tower, which is touted to be India’s tallest residential skyscraper once completed, has settled a dispute with an operational creditor that had moved the Mumbai bench of the National Company Law Tribunal (NCLT) seeking recovery of unpaid dues. As per an NCLT order dated 27 October and reviewed by Mint, Honest Shelters has agreed to pay Interscape, a Mumbai-based architecture and interior decoration firm, ₹4.8 crore against total dues of ₹5.21 crore. The developer had already paid ₹1.05 crore prior to the settlement and committed to clearing the remaining amount in instalments by 31 December. The order records that Saloni Sulakhe of law firm Dhaval Vussonji & Associates, appearing for Honest Shelters, handed over cheques worth ₹3.75 crore to Interscape’s counsel in court. Also Read | Palais Royale: A 15-year saga of delays for India’s tallest tower in the makingThe settlement removes one more legal hurdle for a project that has been mired in delays since its inception over 15 years ago.
