NCLT Order Brings Legal Clarity as Bhutani Infra Maps Revival of Noida’s Entertainment City

The proposed redevelopment could reposition the 147.48-acre property as a major mixed-use destination combining entertainment, retail, hospitality and commercial development.

A long-running ownership dispute surrounding Noida’s Entertainment City has moved closer to resolution following an order from the National Company Law Tribunal.

The order provides Bhutani Infra with greater legal clarity as it begins mapping the proposed revival of the approximately 147.48-acre destination. The company envisions a comprehensive mixed-use development bringing together entertainment, experiential retail, hospitality, cultural venues and commercial spaces.

Entertainment City is already home to some of Noida’s most recognisable leisure and retail assets, including The Great India Place Mall, Gardens Galleria Mall, Worlds of Wonder Theme Park, WOW Water Park and KidZania. The property also contains hotels, retail areas and other leisure attractions.

What the NCLT Order Covers

The NCLT’s New Delhi Bench directed Entertainment City Limited to register shares transferred by minority shareholders IIRF Holdings V Limited and Vistra ITCL (India) Limited to Parmesh Construction Company Limited.

Parmesh Construction Company Limited is part of the Bhutani Infra Group.

The transfer represents a combined 4.26 per cent equity stake, comprising 3.70 per cent from IIRF Holdings and 0.56 per cent from Vistra ITCL. The transfer had been opposed by Unitech Holding Limited over provisions related to its right of first refusal and other shareholder-agreement requirements.

The tribunal ruled that the share transfer could not be refused and directed Entertainment City Limited to enter Parmesh Construction Company’s name in its Register of Members. The order has consequently removed an important legal obstacle affecting the property. ETLegalWorld

Importantly, the order concerns the registration of the 4.26 per cent share transfer. It should not be interpreted as a separate regulatory approval for the entire proposed redevelopment.

A New Vision for Entertainment City

Bhutani Infra is now considering a large-scale redevelopment programme intended to restore Entertainment City’s position as a leading leisure and lifestyle destination in Delhi-NCR.

The proposed roadmap could include the modernisation of existing infrastructure, expansion of Worlds of Wonder, development of new theme parks and creation of experiential retail zones.

Premium hotels, hospitality facilities, public plazas, cultural centres and event venues are also among the components being considered. Smart and sustainable technologies are expected to be integrated into the wider development plan.

If implemented, the redevelopment would shift Entertainment City from a collection of individual attractions into a more integrated urban destination where visitors can shop, work, stay, attend events and access entertainment within one connected environment. Financial Express

Collaboration Will Remain Important

Bhutani Group has acknowledged the role played by Unitech and other stakeholders in the development of Entertainment City and has expressed its intention to pursue the revival through collaboration.

Ashish Bhutani, CEO of Bhutani Infra, described the NCLT order as an important step towards dialogue, cooperation and long-term value creation.

With a shared vision among stakeholders, the company believes Entertainment City could be repositioned as one of India’s leading entertainment, tourism and lifestyle destinations.

The proposed redevelopment could also help the property respond to changing consumer expectations. Modern mixed-use destinations are increasingly being designed around experiences rather than conventional retail alone, combining dining, hospitality, entertainment, public spaces and cultural programming.

What the Redevelopment Could Mean for Noida

Entertainment City occupies a significant location within one of India’s fastest-growing real estate markets. Reviving a property of this scale could strengthen Noida’s appeal as a regional destination for entertainment, tourism, retail and business.

The redevelopment has the potential to attract national and international entertainment and hospitality operators, support employment and encourage further investment in the surrounding area.

It could also provide new opportunities for architects, consultants, contractors, building-technology companies and infrastructure providers.

For the elevator and escalator industry, a mixed-use redevelopment of this scale could create demand for high-capacity passenger movement, accessible vertical mobility, destination-control systems, escalators, service lifts and digitally connected maintenance solutions. The final opportunity will, however, depend on the approved master plan and execution programme.

The Road Ahead

The NCLT order represents legal progress, but the transformation of Entertainment City will depend on stakeholder alignment, statutory approvals, detailed planning and phased execution.

Bhutani Infra has yet to release the final redevelopment master plan, construction schedule or confirmed investment structure. The currently discussed components should therefore be treated as part of a proposed vision rather than a final approved development programme.

Even so, the legal clarity surrounding the share transfer marks a meaningful step towards unlocking the potential of one of Noida’s largest mixed-use properties.

If the proposed revival moves forward, Entertainment City could emerge as a renewed urban destination and play an important role in the next phase of Noida’s commercial, hospitality and entertainment growth. Moneycontrol

Accuracy note: Bhutani Group’s official management page identifies Ashish Bhutani as CEO, Bhutani Group, not Founder and CEO. I recommend using “Ashish Bhutani, CEO, Bhutani Infra” in the published creative. Bhutani Group

 

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