Eurotas Infrastructure Ltd’s Rs 160 cr assets to e-auctioned on January 19

In a major asset sale under the Insolvency and Bankruptcy Code (IBC), 2016, the liquidator of Eurotas Infrastructure Limited has invited bids for the company’s under-construction cement plant in Nashik, along with its movable and immovable assets, through an e-auction scheduled for January 19, 2026.

The sale, authorized by the National Company Law Tribunal (NCLT) Bench V, New Delhi, will be conducted via the IBBI-mandated platform PSB Alliance Private Limited at https://ibbi.baanknet.com/eauction-ibbi/home. Assets are being offered on an “as is where is,” “whatever there is,” and “without recourse” basis, with no warranties from the liquidator.

Assets on Offer

The assets are grouped into two blocks for collective sale:

• Block A: All immovable and movable assets at the plant site in Musalgaon, Sinnar, Nashik, along with movable assets at the registered office in New Delhi.
  Reserve price: ₹100 crore | EMD: ₹10 crore | Bid increment: ₹1 crore
• Block B: All movable assets at the Nashik plant and Delhi office.
  Reserve price: ₹60 crore | EMD: ₹6 crore | Bid increment: ₹50 lakh

The Nashik plant includes:

• 36.37 hectares of sub-leasehold land in MIDC, Additional Sinnar Industrial Area.
• An under-construction cement grinding unit with 1.6 MMTPA capacity, expandable to 4.95 MMTPA, estimated 80–85% complete.
• Office equipment, furniture, and fixtures in Delhi.

Key Legal and Land Details

The land is part of a larger leasehold parcel originally leased by Maharashtra Industrial Development Corporation (MIDC) to Indiabulls Industrial Infrastructure Limited and sub-leased to Eurotas. Approximately 2.17 hectares may still fall under a Special Economic Zone (SEZ), while the rest has been de-notified.

MIDC has issued termination and eviction notices to Indiabulls, with proceedings ongoing in the Nashik District Court. The liquidator has clarified that the sale is not contingent on the outcome of these legal matters.

Auction Timeline and Process

• Site inspection deadline: January 17, 2026 (Contact: Mr. Nikhil Sharma, +91 88285 76197)
• Last date for EMD and document submission: January 17, 2026
• E-auction date and time: January 19, 2026, 2:00 PM to 3:00 PM, with unlimited 5-minute extensions

Interested bidders must register on the portal, upload KYC and eligibility documents, and deposit EMD via e-wallet. The liquidator retains the right to reject any or all bids without explanation.

Payment and Eligibility Conditions

The highest bidder must pay the balance sale consideration within 90 days of the auction. Payments made after 30 days will attract 12% interest. Failure to pay within 90 days will result in cancellation and forfeiture of EMD.

Bidders must submit an undertaking that they are not ineligible under Section 29A of the IBC. If the highest bidder is found ineligible, their EMD will be forfeited, and the next highest bidder may be considered.

Background

Eurotas Infrastructure Limited, incorporated in 2008, was developing a cement grinding unit in Nashik before undergoing liquidation. The asset sale aims to maximize recovery for creditors amid ongoing legal complexities surrounding its land tenure.

Also See: Assets of Shakti Bhog Foods to go under e-auction in January 2026