The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Mr. Satyabrata Mitra and 145 other home buyers against Earth Towne Infrastructure Private Limited ('Corporate Debtor') for defaulting on a financial debt of Rs. 28,64,48,786/-. The applicants, being homebuyers/allottees, had entered into agreements with the Corporate Debtor for allotment of apartments in a project. The Greater Noida Industrial Development Authority (GNIDA) had allotted land to a consortium including Earth Infrastructure Limited, which then incorporated Earth Towne Infrastructure Private Limited as a special purpose vehicle. A development agreement was entered into between Earth Towne Infrastructure and Earth Infrastructure Limited, where the latter was

The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Mr. Satyabrata Mitra and 145 other home buyers against Earth Towne Infrastructure Private Limited ('Corporate Debtor') for defaulting on a financial debt of Rs. 28,64,48,786/-. The applicants, being homebuyers/allottees, had entered into agreements with the Corporate Debtor for allotment of apartments in a project. The Greater Noida Industrial Development Authority (GNIDA) had allotted land to a consortium including Earth Infrastructure Limited, which then incorporated Earth Towne Infrastructure Private Limited as a special purpose vehicle. A development agreement was entered into between Earth Towne Infrastructure and Earth Infrastructure Limited, where the latter was