Alpha Corp Development Pvt Ltd has approached the Supreme Court challenging GNIDA over disputed lease and development obligations. The high-stakes case could impact real estate contracts, builder–authority relations, and homebuyer rights across India.
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NEW DELHI: The Supreme Court of India today heard a civil appeal filed by Alpha Corp Development Pvt Ltd against the Greater Noida Industrial Development Authority (GNIDA) in a high-stakes real estate dispute concerning development and lease obligations.
The case came up before a Bench of Justice Sanjay Kumar and Justice Alok Aradhe.
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Background of the Case
Alpha Corp and GNIDA are locked in a long-running dispute over land and development rights in Greater Noida. The disagreement arose from alleged breaches of contractual terms, development delays, and lease-related obligations.
The company approached the Supreme Court challenging directions issued by the National Company Law Appellate Tribunal (NCLAT), particularly paragraphs 89, 90, and 91 of the impugned order.
Appearing for Alpha Corp, Senior Advocate Dr. Abhishek Manu Singhvi presented the company’s case, emphasizing that the dispute “is not a case of transfer of land at all.”
Dr. Singhvi argued that the interpretation adopted by the lower forum could “nullify the object of the section itself,” noting that homebuyers were not originally covered under the Insolvency and Bankruptcy Code (IBC) when it was enacted.
“The larger issue is that if your lordship issue that in a sense this could nullify the bject of section itself. For a long time homebuyer were not in the IBC when it was enacted. The other issue this is not a case of transfer of land at all”
He pointed out that the claims involved were substantial, around ₹98 crore and ₹300 crore, and that different projects were at different stages of completion, making it impossible to have a single unified resolution plan.
Alpha Corp has requested the Supreme Court to set aside directions in paragraphs 89, 90, and 91 of the lower tribunal’s order.
“The direction we want set aside is 89, 90 and 91.”
Dr. Singhvi further noted that the appeal may be disposed of in terms of paragraph 95, as recorded in the submissions.
Case Title:
ALPHA CORP DEVELOPMENT PRIVATE LIMITED V GREATER NOIDA INDUSTRIAL DEVELOPMENT AUTHORITY (GNIDA) AND ORS.
C.A. No. 1526/2023
