Lotus Isle
Sector 98 · Noida, Uttar Pradesh
critical Risk
Under CIRP
Lotus Isle is one of the most distressed projects in the Noida market. Active CIRP, a possible (unverified) liquidation order, CBI probe against shared promoters, ₹4,178 crore in group-level NOIDA dues, and no OC combine to create a situation where existing buyers face real risk of total capital loss. Prospective buyers should stay away entirely. Existing buyers must immediately file claims with the Resolution Professional and engage legal counsel — every month of delay in CIRP reduces your chance of recovery.
Conditions to reconsider
- No conditions under which a prospective purchase is advisable
- Existing owners: file RP claim immediately if not already done
- Existing owners: verify liquidation order status through lawyer before any other action
- Re-evaluate only if a credible developer acquires the project under an approved resolution plan — and even then, verify the plan terms carefully
Updated 30 Sept 2026 · Not legal or financial advice
Possession Timeline
Estimated Possession
Cannot estimate
Too many unresolved variables
CIRP commenced August 2024 with no resolution plan approved as of this writing. A possible liquidation order (unverified) in May 2025 would mean the project will not be completed by the current developer at all. Even under a best-case resolution scenario, completion would require a new developer acquiring the assets and recommencing construction.
Milestones
RERA deadline (original possession)
2021-03-31Deadline missed; project never received OC
Physical possession (partial, informal)
2021-09Some buyers given physical access; no OC or formal registry
CIRP commenced
2024-08-09Company under Resolution Professional control
Possible liquidation order
2025-05Unverified — requires urgent legal confirmation
Resolution plan / new acquirer
No resolution plan announced; timeline unknown
OC and formal possession
Cannot be completed until CIRP resolved and new developer engaged
Updated 30 Sept 2026 · Estimates are based on public information and may be materially wrong
Active Risk Flags(5)
Liquidation Risk
Under Insolvency Process
Authority Dues Unpaid
Flat Registries Blocked
5+ Years Delayed
No hearing scheduled
Project Details
RERA Registration
Authority
Developer
Project Timeline
Scale
Configuration
Authority Dues
Segment
OC Status
CC Status
RERA Compliance
Price Context
With active CIRP and possible liquidation, pricing is essentially distressed asset territory. Any secondary market transaction carries extreme risk of capital loss. No meaningful price discovery is possible until CIRP outcome is resolved.
Price Comparison
Pre-CIRP secondary market (est.)
Pre-CIRP estimate for mid-segment 3/4BHK in Sector 98
As of 2023
₹7,500/sqft
Post-CIRP distressed (if any transactions)
Highly speculative; no verified transactions
As of 2026-Q2
₹4,500/sqft
Comparable Sector 100–105 (healthy projects)
Reference for healthy mid-luxury in the micro-market
As of 2026-Q2
₹8,000/sqft
Distress Discount
40–50% implied discount to healthy comparable projects; discount may widen further if liquidation is confirmed
Analyst View
Cannot assess
There is no safe entry price for a project facing potential liquidation and CBI probe. Even a steep discount does not compensate for the risk of total capital loss. Do not buy at any price until CIRP outcome is conclusively resolved.
Updated 30 Sept 2026 · Prices are indicative, not a valuation
Flat Registry
Registry is effectively blocked. The project does not have OC (status: not applied). Under CIRP, the Resolution Professional controls the corporate debtor's assets, and any transfer of property rights without RP or NCLT approval would be legally challenged. Some buyers reportedly received physical possession from September 2021 onwards, but physical possession without registered title conveys no legal ownership.
What's blocking it
- No Occupancy Certificate — OC not yet applied for any tower
- CIRP in progress — property transfers require NCLT/RP approval
- Possible liquidation order (unverified) would freeze all registrations
- NOIDA group dues of ₹4,178 crore create potential lien on land
- CBI investigation may result in attachment orders
What would unlock it
- Successful resolution plan approved by NCLT (would require new developer/acquirer)
- Court-ordered registry in specific cases on homebuyer petition (requires legal action)
- Liquidation completion with distribution to homebuyers (if they rank as creditors)
Updated 30 Sept 2026
What Should You Do?
If you already own here
- Do now
File your claim with the Resolution Professional
Contact RP Devendra Umrao (IBBI/IPA-003/IP-N00223/2019-2020/12640) and file a formal homebuyer claim. The IBC treats homebuyers as financial creditors — filing preserves your right to vote on any resolution plan and to receive distribution in liquidation.
- Do now
Engage a RERA/IBC specialist lawyer
This situation requires specialist legal counsel. A lawyer can file a RERA complaint (for interest on delayed possession), file at NCLT as a financial creditor, and monitor the CIRP proceedings for your interests.
- Soon
Document all payments and correspondence
Compile all builder-buyer agreement documents, payment receipts, and any possession-related correspondence. These are your evidence as a financial creditor in CIRP proceedings.
- Monitor
Verify liquidation order status urgently
Reports of a May 2025 SC liquidation order are unverified. Your lawyer should verify current NCLT/NCLAT status. If liquidation is confirmed, you must file proof of claim in the liquidation estate immediately.
If you're considering buying
- Do now
Do not buy — avoid at any price
Active CIRP, possible liquidation, CBI probe, and no OC make this project uninvestable. Any secondary market transaction risks total capital loss. There is no margin of safety at any price.
Updated 30 Sept 2026 · Not legal or financial advice
Legal Proceedings
NCLT
Filed 9 Aug 2024
Petition under Section 7 IBC filed by Sachin Singh. CIRP commenced Aug 9 2024. RP/IRP: Devendra Umrao (IBBI/IPA-003/IP-N00223/2019-2020/12640). Possible liquidation order May 2025 — unverified, requires confirmation.
3 FIRs filed Mar 2025
Filed 21 Mar 2025
CBI filed 3 FIRs against Lotus Green Constructions Pvt Ltd (related 3C entity) in ₹9,000cr Noida Sports City scam. Allahabad HC Feb 2025 judgment found builders violated allotment conditions. Directly implicates shared promoters.
Construction Progress
Some physical possession reported (Sep 2021 onwards) but CIRP commenced Aug 2024 raises questions about OC/CC status and remaining obligations.
As of Sept 2026
Legal Timeline
Three C Infratech (group entity) enters insolvency; ED attaches Ambala land under PMLA
CBI files 3 FIRs against Lotus Green Constructions Pvt Ltd in Sports City scam
Allahabad HC judgment: ₹9,000 crore Noida Sports City scam; CBI probe ordered against 3C Group entities
Three C Properties enters CIRP; RP Devendra Umrao appointed
RERA possession deadline missed
RERA registration (UPRERAPRJ5442); completion deadline Mar 31 2021
Watchlist
Possible liquidation order (May 2025)
MonitoringUnverified report of SC liquidation order for Three C Properties. Requires urgent confirmation.
NOIDA dues — group-level exposure
Unresolved₹4,178 crore group total; Lotus Isle SPV amount not separately quantified
CBI investigation spillover
MonitoringShared promoters implicated in Sports City scam. Could trigger further enforcement against Three C Properties
Flat registry status
MonitoringSome buyers reportedly in possession (Sep 2021 onwards) but formal registries status unclear under CIRP
Expert Analysis
Updated 29 Sept 2026Lotus Isle — Expert Analysis
Last updated: September 2026
Overview
Lotus Isle is the smallest of the four Lotus projects — 258 units across 3 towers in Sector 98. It entered CIRP only in August 2024, making it the most recently insolvent. However, it carries the highest uncertainty because the CIRP is new and early-stage, and there is an unverified report of a possible liquidation order as early as May 2025.
The Liquidation Flag
A report suggests a Supreme Court liquidation order for Three C Properties Pvt Ltd dated May 2, 2025. This requires verification. If confirmed, it would mean the company is in liquidation — a significantly worse outcome for buyers than CIRP. In liquidation, buyers become financial creditors but construction completion becomes extremely unlikely without a buyer for the assets.
We are treating this as "monitoring" until confirmed from official IBBI or court records.
The 3C Group Contagion Risk
The same three promoters — Nirmal Singh, Supreet Singh Suri, Vidur Bhardwaj — are behind Lotus Panache, Lotus 300, Lotus Zing, and Lotus Isle. The February 2025 Allahabad HC judgment in the Sports City scam found that these promoters violated allotment conditions and caused ₹9,000 crore in exchequer losses. CBI filed FIRs in March 2025.
This is material for Lotus Isle buyers because: (1) enforcement action against the promoters personally may complicate any resolution, (2) the group's combined NOIDA dues of ₹4,178 crore make authority cooperation in any resolution plan more difficult.
What to Watch
- Verify the liquidation order — Check IBBI website for Three C Properties (CIN: U70200DL2010PTC205856)
- RP Devendra Umrao's status — Is a resolution plan being formulated or has it failed?
- OC/CC status — Do the 3 towers have Occupancy and Completion Certificates?
This analysis reflects the author's interpretation based on public court records and news sources. It is not legal advice.