Liquidation sale under the Insolvency and Bankruptcy Code, 2016, announced on the IBBI website on 8 Oct 2026.
Assets on sale: Composite sale of the Sathyanagar Project of the corporate debtor and Sapphire Space Infracon Private Limited, by way of a slump sale under Regulation 32(b) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, as amended, comprising all assets, rights, title, interests, benefits, entitlements and obligations forming part of the Sathyanagar Project and capable of being transferred under Applicable Law, including: (a) the corporate debtor: immovable property comprised in Survey Nos. 17, 39/2, 35/1/A and 39/2/1, Ranishigaon (Nevale) village, Boisar–Palghar, District Palghar, Maharashtra, admeasuring approximately 16.22 acres, together with all structures constructed thereon and all rights and appurtenant interests relating thereto; (b) Sapphire Space Infracon Private Limited: immovable property comprised in Survey Nos. 17/2B, 39/2, 35 and 11/1A, Ranishigaon (Nevale) village, Boisar–Palghar, District Palghar, Maharashtra, admeasuring approximately 16 acres, together with all structures constructed thereon and all rights and appurtenant interests relating thereto; (c) all Development Rights, including rights arising under the Joint Development Agreement and other Project-related arrangements; (d) all FSI, fungible FSI, premium FSI, TDR, loading rights and other development potential relating to the Sathyanagar Project, to the extent available and transferable under Applicable Law; (e) all buildings, structures, works-in-progress, infrastructure, common areas, amenities, utilities and other improvements forming part of the Sathyanagar Project; (f) all Units forming part of the Sathyanagar Project, other than Units in respect of which possession has been handed over to the respective Allottees prior to the applicable Insolvency Commencement Dates of the respective Corporate Debtors and which are excluded from the liquidation estate under Regulation 46A of the Liquidation Regulations; (g) all registered Agreements for Sale in respect of the Units forming part of the Sathyanagar Project, together with the rights, benefits and continuing contractual obligations arising thereunder and capable of being transferred under Applicable Law; INR 36,00,00,000 INR 3,60,00,000 INR 25,00,000 (h) all Project Receivables arising from or in relation to the Sathyanagar Project, the Sale Assets, the Units and the registered Agreements for Sale, excluding any receivables, monies, interest, compensation or other amounts exclusively attributable to Units in respect of which possession has been handed over to the respective Allottees prior to the applicable Insolvency Commencement Date; (i) all Approvals, sanctions, permissions, licences, registrations and other regulatory entitlements relating to the Sathyanagar Project, to the extent transferable, capable of transfer, renewal or revalidation under Applicable Law; (j) all Project Documents, designs, drawings, plans, technical documents, intellectual property, records and data relating to the Sathyanagar Project; (k) all contractual rights, benefits and obligations relating to the Sathyanagar Project and capable of being transferred to the Successful Bidder; and (l) all other assets, rights, interests, benefits and entitlements forming part of or incidental to the Sathyanagar Project and more particularly described in the Process Memorandum. The Sale shall be undertaken as a single composite and indivisible slump sale for a single lump-sum consideration, on an “As Is Where Is”, “As Is What Is”, “Whatever There Is”, “No Recourse” and “Without Representation or Warranty” basis, subject to the terms of the Process Memorandum and the Liquidation Regulations.
The auction date, reserve price and EMD deadline come from IBBI's list. The official notice has the lot-wise details, the auction time and the e-auction website.