# In the matter of Satyabrata Mitra & Ors. vs. Earth Towne Infrastructure Pvt. Ltd.

> NCLAT judgment dated 2025-09-04. Citation: TCN-2025-NCLAT-00490. The appeal was filed by Mr. Satyabrata Mitra and 114 others under Section 61 of the…

- **Court:** NCLAT
- **Order date:** 4 Sept 2025
- **Citation:** TCN-2025-NCLAT-00490
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/satyabrata-mitra-ors-vs-earth-towne-infrastructure-pvt-ltd-e4a62858

## Summary

### Background

The appeal was filed by Mr. Satyabrata Mitra and 114 others under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order dated 21.10.2024 passed by the National Company Law Tribunal, New Delhi, Bench IV, in C.P.(IB) No. 196 of 2023. The Appellants are homebuyers in the 'Earth Towne' project developed by Earth Towne Infrastructure Pvt. Ltd. (ETIPL).

## Facts

The appeal was filed against the order dated 21.10.2024 passed by the National Company Law Tribunal, New Delhi, Bench IV, in C.P.(IB) No. 196 of 2023.

The Appellants are homebuyers in the 'Earth Towne' project developed by Earth Towne Infrastructure Pvt. Ltd. (ETIPL).

ETIPL is the landowner and developer company for the project initiated by Earth Infrastructure Ltd. (EIL), which is the holding company of ETIPL.

In 2010, the Greater Noida Industrial Development Authority (GNIDA) allotted Plot No. GH-04, Sector-01, Greater Noida, to a consortium led by EIL (78% share) along with Raus Infras Limited (11%) and Shalini Holdings Limited (11%).

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## Issues and analysis

### Issue 1: Whether the Appellant as a class of creditors (Homebuyers) were eligible to initiate Section 7 …

**Ratio:** The threshold for financial creditors who are allottees under a real estate project to

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**Reasoning:** The Adjudicating Authority held that the Appellants did not meet the threshold of 100

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**Interpretation:** The threshold criteria is applicable at the time of filing Section 7

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**Application:** The Appellate Tribunal found that the Appellants met the threshold requirement

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## Parties

- **Judges:** Rakesh Kuma…; Mohammad Faiz…; +1 more
- **Appellants:** Satyabrata…; Devi…; +111 more
- **Respondents:** Earth Towne…
- **Advocates:** Vatsala…; Shaurya…

## Timeline

- **2024-10-21 — Impugned…**: Order passed by the National Company Law Tribunal, New Delhi, Bench IV, in C.P.(IB) No.…
- **2025-09-26 — Direction to…**: Both parties are directed to appear before…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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