Shardul Amarchand Mangaldas advises CoCs of Arshiya Group in landmark NCLAT approved multi-CIRP asset sale

December 15, 2025

Shardul Amarchand Mangaldas advised the Committees of Creditors (“CoCs”) of Arshiya Limited (“AL”), NCR Rail Infrastructure Limited (“NCR Rail”), and Arshiya Northern FTWZ Limited (“ANFL”) in the Corporate Insolvency Resolution Processes of the Arshiya Group.

The matter involved the sale of key non-core, encumbered land parcels of AL at Khurja, Uttar Pradesh, to the successful resolution applicants of ANFL and NCR Rail. The sale was critical for ensuring operational continuity, regulatory viability, and value maximisation across the interlinked assets of the Arshiya Group.

The Insolvency and Restructuring team was led by Misha, Partner and Soummo Biswas, Partner, along with Mahima Sareen, Principal Associate; Yugal Jain, Principal Associate; Abhilash Chaudhary, Principal Associate; Amandeep Saini, Associate; and Sanyukta Fauzdar, Associate.