COMPANY INFORMATION
Earth Infrastructures Limited (EIL) is a real estate developing company and its primary business is development of residential and commercial complexes. EIL was having development and selling rights of five projects viz. Earth Towne, Earth Techone, Earth Sapphire, Earth Copia & Earth Iconic. The land of these projects belongs to different land-owning companies which are the subsidiary companies of EIL.
The Corporate Insolvency Resolution Process (CIRP) of M/s Earth Infrastructure Limited (Corporate Debtor) was initiated vide order dated 06.06.2018 by the Hon’ble National Company Law Tribunal (NCLT) and Sh. Surinder Kumar Juneja was appointed as IRP and subsequently Sh. Akash Shinghal was appointed as Resolution Professional of Corporate Debtor vide order dated 18.03.2019.
The Resolution Plan for the project ‘Earth Iconic’ has been approved by this Hon’ble Adjudicating Authority in Corporate Insolvency Resolution Process of M/s Celestial Estates Pvt. Ltd. vide order dated 15.03.2021 in CA 920/2020 in IB-1768(ND)/2018.
The resolution plans submitted by Roma Unicon Designex Consortium for project ‘Earth Towne’ and Alpha Corp Development Pvt. Ltd. for the projects ‘Earth Copia’, ‘Earth Sapphire Court’ and ‘Earth Techone’ were approved by the Committee of Creditors (“CoC”) in its 14th CoC Meeting held on 26.08.2019 and 19th CoC Meeting held on 11.11.2019 respectively and the same was approved by the Hon’ble NCLT vide order dated 05.04.2021 and 08.06.2021 respectively.
The above two Resolution Plan was subsequently challenged before the Hon’ble National Company Law Appellate Tribunal (NCLAT) and the same were set aside vide order dated 30.01.2023 and all the parties aggrieved by the said order filed civil appeals before the Hon’ble Supreme Court and the Hon’ble Supreme Court vide order dated 05.05.2026 has restored the Resolution Plans of Roma Unicon Designex Consortium and Alpha Corp Development Pvt Ltd.
At present, EIL has development and selling rights of remaining four projects. Following are the projects:
- Earth Copia
- Location: Sector-112, Gurugram, Near village Fazilpur, Haryana
- Land Area: 41,755.46 sqm (10.318 Acres as per Zoning Plan)
- Land Owning Company: Aurochem Build Prop Private Ltd
- Earth Sapphire Court
- Location: Plot No. 48, Sector Knowledge Park-5, Greater Noida, Sector 3, UP
- Land Area: 20911.24 Sq. Mts
- Land Owning Company: M/s Nishta Software Private Limited
- Earth Tech One
- Location: Plot No. TZ-01, Sector Tech Zone, Greater Noida, Gautam Budh Nagar, Yamuna Express Way, UP
- Land Area: 58,866.03 sqm
- Land Owning Company: Neo Multimedia Ltd
- Earth Towne
- Location: Plot no.4, Sector no.1, Greater Noida
- Land Area: 73,942.00 sqm
- Land Owning Company: Earth Towne Infrastructures Pvt Ltd
Copy of Orders with respect to the approval of above-mentioned Resolution Plans:
1. Order dated 15.03.2021 w.r.t approval of Resolution Plan of Project Earth Iconic
2. Order dated 05.04.2021 w.r.t approval of Resolution Plan of Project Earth Towne