NCLT clears Bhutani Infra’s Entertainment City stake buy despite Unitech challenge

The National Company Law Tribunal (NCLT) has approved Bhutani Infra’s acquisition of a stake in the Entertainment City project, dismissing objections raised by real estate developer Unitech, in a move that clears the way for the restructuring and revival of the high-profile commercial development.

The tribunal’s order allows Bhutani Infra to proceed with its proposed investment and stake purchase in the project, which includes retail, hospitality and mixed-use assets. Unitech had challenged the transaction, raising concerns over ownership rights and the structure of the deal, but the NCLT found no grounds to halt the process.

The ruling is expected to accelerate progress on the long-stalled project by bringing in fresh capital and execution capability. Bhutani Infra, which has been expanding its commercial real estate portfolio across the National Capital Region, is likely to take a lead role in completing and monetising the development.

The decision also signals judicial backing for resolution-driven investments in stressed real estate assets, particularly where projects have faced delays due to legacy disputes and financial constraints. Industry observers see the move as reinforcing investor confidence in redevelopment opportunities under court-supervised frameworks.

With legal hurdles now largely addressed, the focus is expected to shift to project execution timelines, tenant acquisition and asset positioning in a competitive commercial real estate market.
BCS Bureau