Eurotas Infrastructure Limited ("EIL" or "Corporate Debtor") consists of a cement grinding unit located in Nashik, Maharashtra. It is a public limited company incorporated on February 23, 2011 under the provisions of the Companies Act, 1956 and registered with Registrar of Companies, Delhi. The Company’s Corporate Identification Number (CIN) is U70101DL2011PLC214733. The Company's Authorized Share Capital is INR 3,17,50,000 and it's Paid-Up Capital is INR 1,55,00,000. The main object is to manufacture and trade in Cement. The Registered office address of the Corporate Debtor is at Basement, A-103, Road No. 4, Mahipalpur, Extension New Delhi, South West Delhi.
A Company Petition for initiation of Corporate Insolvency Resolution Process (“CIRP”) against EUROTAS INFRASTRUCTURE LIMITED was filed by Axis Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“Code”) before the Hon’ble National Company Law Tribunal, New Delhi Bench (“Hon. NCLT”).
The said Company Petition was admitted by the Hon. NCLT vide its order dated 24th November 2020 (“CIRP Order”). By way of the CIRP Order, a moratorium under Section 14 of the Code was declared by the Hon. NCLT. The Hon. NCLT also appointed Mr. Ram Singh Setia as the Interim Resolution Professional (“IRP”) of the Corporate Debtor. At the first meeting held of the Committee of Creditors (CoC) held on 23rd December 2020 Mr. Ram Singh Setia has been appointed as a Resolution Professional.
The company has set up a 1.65 MMTPA cement grinding plant at the Additional Sinnar Industrial Area, MIDC, Village - Musalgaon, Taluka - Sinnar, District - Nashik, Maharashtra. There was a proposal to achieve a total capacity of 4.95 MMTPA at this grinding unit by installing two more cement mills and other requisite plant, machinery and infrastructure in the years to come once the first cement grinding plant become operational.
The site is located near Rattanindia Nashik Power Limited (RNPL) [Formerly known as India bulls Realtech Ltd.’s (IRL)] 2700 MW coal based thermal power plant which is situated in the Special Economic Zone (SEZ) developed under a JV with MIDC. The JV Company is India bulls Industrial Infrastructure Ltd. (IIIL). The company has entered into sub-lease agreement dated 1st October, 2012 with IIIL for a plot of land admeasuring 36.37 Hectares.