Work Resumes at Delhi One After Decade as HC tells Noida to Okay Plans

Noida, September 26, 2025: The Allahabad high court has opened the way for revival of the Delhi One project in Sector 16B of Noida.

On September 15, a division bench of Justices Mahesh Chandra Tripathi and Anish Kumar Gupta told the Noida Authority on September 15 to approve building plans for Max Estates Limited, if the company deposits in a week half of the disputed INR 67 crore that it has been asked to pay for change in constitution and shareholding charges (CIC/CIS).

The Authority has been barred from any coercive action during this period.

With this development, the long legal battle has broken out of the ice it has been in for a decade. Delhi One was announced in 2010 by Boulevard Projects Pvt Ltd (BPPL) of the Three C group along DND Flyway. It consisted of luxury residences, office towers, and a luxury hotel. By 2015-16, however, work had come to a halt.

In February 2019, BPPL was admitted into the corporate insolvency resolution process (CIRP) by the National Company Law Tribunal (NCLT).

Two years after that, the NCLT approved a resolution plan by Max Estates — the real estate arm of the Max Group — to revive the project. The Authority initially claimed over INR 932 crore in dues, but the NCLT admitted only INR 325 crore. The Authority appealed to the National Company Law Appellate Tribunal (NCLAT); a revised settlement came about in October last year.

Max agreed to pay INR 613 crore over three years, including interest at the State Bank of India’s MCLR rate, in exchange for a three-year extension to complete the project. The NCLAT formally recognised this settlement on October 25, 2024, giving Max six months to begin implementation.

The next hitch came when the Authority decided to levy an additional INR 67 crore in CIC/CIS charges, citing its Unified Policy (2025) that mandates such charges in cases of 100% shareholding change.

Max Estates challenged the decision, arguing that the ownership change was a statutory result of the NCLT’s resolution plan, which, under Section 31(1) of the Insolvency and Bankruptcy Code, was binding on all stakeholders

With the Authority’s board failing to resolve the dispute, Max filed a writ petition before the high court. On April 7, the court asked the Authority to decide the issue within four weeks, but the Authority’s June 12 board resolution upheld the CIC/CIS charges, prompting Max to return to court.

In its latest order, the high court found a prima facie case in Max’s favour. “As an interim measure, it is provided that subject to deposit of 50% of demand within one week, as per the undertaking, no coercive action shall be taken against the petitioner pursuant to the impugned resolution/letter. Thereafter, the necessary permission may also be accorded to the petitioner by the Authority so that the project may start,” the court said.