NEW DELHI: Alpha Corp Development has acquired three stalled projects of Earth Infrastructures through the resolution process under the National Company Law Tribunal (NCLT).<\/p>\n
This is expected to bring relief to over 3,000 affected homebuyers and commercial-space buyers. The projects include two commercial developments: Earth TechOne and Earth Sapphire Court in Greater Noida and one residential project, Earth Copia in Gurugram.<\/p>\n
The company is expected to invest approximately \u20b9750 crore towards completion, redevelopment, infrastructure upgrades, and delivery of the projects, with a projected revenue potential of around \u20b91,200 crore.
\nAdvt<\/p>\n
The Supreme Court of India, vide its judgment dated May 5, 2026, restored Alpha Corp Development\u2019s Resolution Plan in Civil Appeal No. 1526 of 2023, setting aside the order dated January 31, 2023 of the NCLAT that had rejected the plan.The apex court observed that any further delay would seriously prejudice homebuyers and commercial-space buyers who had invested substantial amounts in the developments. The court also directed that Greater Noida Industrial Development Authority (GNIDA) would be entitled to recover only its principal dues, while waiving penal interest, penal charges, and time-extension penalties, noting that prolonged inaction by the authority had contributed significantly to the present situation. It further mandated that Alpha will clear these dues over 24 months, with no financial burden passed on to homebuyers.
\nZeus Law Associates represented the company in the matter.<\/p>\n","protected":false},"excerpt":{"rendered":"
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