26-km BOT road project of Supreme Vasai Bhiwandi Tollways up for auction at ₹42 crore

The liquidator of Supreme Vasai Bhiwandi Tollways Pvt Ltd, which is undergoing liquidation under the Insolvency and Bankruptcy Code (IBC), has put the company’s toll road project and associated assets on the block with a reserve price of ₹42 crore under the ninth e-auction process. The auction is scheduled for August 20, 2026, after multiple earlier attempts to sell the assets.

The assets comprise the 26.425-km four-lane Chinchoti-Kaman-Anjurphata-Mankoli Road project in Maharashtra’s Thane district, developed under the Build-Operate-Transfer (BOT) model. Besides the toll road, the sale includes all project-related machinery and equipment, electronic FASTag infrastructure installed at the toll plazas, and all rights, interests, actionable claims and benefits arising from the project under the concession and substitution agreements. The concession period for the project runs until November 27, 2033, giving the successful bidder the right to operate and collect toll for the remaining concession period.

According to the auction notice, the assets are being sold on an “as is where is”, “as is what is”, “whatever there is” and “without recourse” basis. Interested bidders will have to carry out their own due diligence before participating in the auction.

The liquidator has fixed the earnest money deposit (EMD) at ₹4.2 crore, equivalent to 10% of the reserve price, while the minimum bid increment has been set at ₹10 lakh. Prospective bidders must submit their eligibility documents, including compliance with Section 29A of the IBC, and deposit the EMD by 4 pm on August 18, 2026. Site inspection and due diligence can also be completed by the same date.

The e-auction will be conducted on the IBBI’s Baanknet platform between 10.30 am and 3 pm on August 20, with automatic five-minute extensions if bids are received near the closing time.

The successful bidder will be required to pay the balance sale consideration within 30 days from the date of issuance of the Letter of Intent. Payments made after 30 days but within 90 days will attract interest in accordance with the liquidation regulations. Failure to complete payment within 90 days will result in cancellation of the sale and forfeiture of the EMD, the notice said.

The company was admitted into liquidation by the National Company Law Tribunal (NCLT), Chandigarh Bench, and the sale is being conducted in accordance with the provisions of the IBC and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations.

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