Assotech

EXECUTIVE SUMMARY

Assotech is no longer active as a normal independent developer through its legacy parent, Assotech Limited, which has been in liquidation since February 2016. However, the project company Assotech Moonshine Urban Developers Private Limited remains shown as active and continues as the RERA promoter of Assotech Blith in Sector 99, Gurugram. For present due diligence, buyers must separate the liquidated parent from operating project SPVs and from Assotech Realty Private Limited, which markets a distinct portfolio.

KEY PERFORMANCE METRICS

• Legacy parent: Assotech Limited

• Parent status: in liquidation since 8 February 2016

• Gurgaon promoter: Assotech Moonshine Urban Developers Private Limited

• Project-SPV incorporation: 19 August 2006

• Project-SPV CIN: U70109DL2006PTC152223

• Gurgaon project: Assotech Blith, Sector 99

• Licensed area: 12.062 acres

• Registered FAR: 84,403.13 sq m

• Inventory: 560 residential units, 23 villas, 10 shops and 103 EWS units

• Current RERA validity displayed: 21 February 2025 to 20 February 2027

• Latest project-SPV revenue reported in public filing summaries: about Rs 62.24 crore in FY2025

IMPORTANT CAVEAT

Assotech is a brand used across legally separate companies. Assotech Limited is under liquidation, while Assotech Moonshine Urban Developers Private Limited is an unlisted, active company and the registered promoter for Assotech Blith. Assotech Realty Private Limited also presents itself as an operating business but is not automatically responsible for other Assotech entities. Audited group-level consolidated financials are not publicly available. Buyers must rely on the exact entity in the allotment letter, sale agreement, RERA record and payment receipt.

COMPANY OVERVIEW AND CORPORATE STRUCTURE

Assotech Limited, CIN U45201DL1996PLC078063, was the legacy group company. It entered court-supervised liquidation proceedings after a Delhi High Court order in 2016. Assotech Moonshine, formerly Moonshine Urban Developers Private Limited, is the Sector 99 project company, registered at Mayur Vihar, Delhi, with a corporate office historically shown in Noida. It remains separate from the parent liquidation estate. This distinction determines who holds customer money, owes possession obligations and can execute conveyance documents.

SISTER COMPANIES AND GROUP ENTITIES

Relevant names include Assotech Realty Private Limited, Assotech Moonshine Urban Developers Private Limited, Assotech Business Cresterra entities, Assotech Office Space Private Limited, Crossings Infrastructure Private Limited and Assotech Milan Resorts Private Limited. Their ownership, projects and liabilities differ.

LEADERSHIP AND MANAGEMENT

Sanjeev Srivastava has been publicly identified with the legacy Assotech group and has served on Assotech Moonshine's board. More recent public corporate records list Enakshi Priyam and Shivani Priyam as directors of the project company. A 2025 Haryana RERA certificate names Pravin Kumar as authorised signatory.

PROJECT PORTFOLIO ANALYSIS

The legacy brand promoted projects through several entities. Only projects backed by the same legal promoter should be used to assess contractual performance.

A. DELIVERED / OPERATIONAL LANDMARKS

Projects historically associated with Assotech include Tradex Towers I and II, Windsor Park, Springfields, Elegante, Cabana, Business Cresterra, Windsor Court, Celeste Towers and The Nest. Their delivery does not create a legal guarantee for Assotech Blith.

B. KEY ONGOING AND RECENTLY LAUNCHED PROJECTS

Assotech Blith, Sector 99, Gurugram, is a group-housing project under Assotech Moonshine. Registration 83 of 2017 covers 12.062 acres, seven residential towers, villas, convenience shopping and an EWS tower. Haryana RERA granted registration under Section 7(3) in December 2025, with displayed validity from 21 February 2025 to 20 February 2027. The order imposes conditions in allottees' interests. Buyers should verify tower-level construction, revised completion commitments and OC or CC status.

C. PIPELINE

No credible new Gurgaon pipeline is publicly established under the liquidated Assotech parent. The near-term task is completion and statutory compliance at Assotech Blith and other legacy projects. Any future Assotech-branded launch should be evaluated from the promoter entity and fresh RERA registration, not from the historical group name.

FINANCIAL ANALYSIS

• Current consolidated group revenue, debt, cash, EBITDA and PAT: not publicly available

• Assotech Moonshine FY2025 revenue: approximately Rs 62.24 crore in public filing summaries

• Project-SPV paid-up capital: approximately Rs 3 lakh

• Parent-company liquidation liabilities and recoveries: subject to the Delhi High Court process

• Project escrow and customer advances: not publicly available

Revenue of the active SPV is not evidence that the liquidated parent has recovered. The small equity base, project concentration and dependence on collections increase sensitivity to construction costs and delays. Buyers should seek audited accounts, escrow statements, lender releases and RERA-certified progress.

CREDIT RATING AND LIQUIDITY

No current public credit rating was found for Assotech Moonshine or Assotech Limited. Project liquidity must be assessed through RERA accounts and actual construction.

MARKET POSITION AND COMPETITIVE ANALYSIS

Assotech was an established mid-sized NCR brand with experience across housing, offices and mixed-use development. Assotech Blith benefits from Sector 99's Dwarka Expressway location and offers apartments, villas and sports-oriented amenities. Its weaknesses are prolonged execution history, fragmented entities, parent liquidation and limited financial transparency.

REGULATORY COMPLIANCE AND LEGAL STATUS

Assotech Limited remains in liquidation before the Delhi High Court. Court records also refer to an SFIO investigation into the company's affairs and disputes concerning actions of former management. These proceedings and allegations must not be treated as final findings against every current project entity. Haryana RERA has handled numerous delayed-possession complaints involving Assotech Blith. In 2025, the Authority renewed the project under Section 7(3) with conditions rather than treating the old schedule as fulfilled. A pending complaint also raised disputes over whether payments were made to Assotech Limited or Assotech Moonshine, illustrating the counterparty risk.

CUSTOMER PERSPECTIVE

Public complaints commonly cite delayed possession, refund disputes, uncertainty about payment credit and slow completion. Online reviews are user-submitted and not adjudicated evidence. Consult current allottees about services and unfinished amenities.

RISK ASSESSMENT

Assotech combines legacy-brand recognition with unusually high legal-entity and completion risk.

A. OPERATIONAL RISKS

Assotech Blith has a long delivery cycle and depends on compliance with the Section 7(3) conditions. Remaining construction, contractor continuity, approvals and common amenities may affect handover quality and timing.

B. FINANCIAL RISKS

The parent is in liquidation, current consolidated financials are unavailable and the project SPV has a small capital base. Liquidity depends on ring-fenced collections, unsold inventory and access to completion funding.

C. LEGAL AND GOVERNANCE RISKS

Brand, parent and promoter names differ. Parent liquidation, SFIO-related proceedings, payment-allocation disputes and multiple SPVs complicate accountability. Allegations against former management remain distinct from proven liability of current directors or the project company.

BEST PRACTICE FOR BUYERS

Verify RERA registration 83 of 2017, the December 2025 Section 7(3) certificate and every condition attached to it. Match the agreement, demand notice and bank account to Assotech Moonshine Urban Developers Private Limited. Check title, licence 95 of 2011, sanctioned plans, tower-specific OC or CC, construction progress, escrow compliance, lender encumbrances and pending RERA orders. Search complaints under Assotech Limited and the exact SPV. Review delay compensation, cancellation, refund and force-majeure clauses with a property lawyer.

FUTURE OUTLOOK AND STRATEGIC DIRECTION

The immediate outlook rests on completing Assotech Blith by the revised regulatory timeline and resolving legacy obligations. Dwarka Expressway and Sector 99 development support location demand, but infrastructure cannot offset non-delivery. A broader revival of the Assotech name would require transparent ownership, audited financials, clean project-level funding and demonstrated handovers.

INVESTMENT AND BUYER THESIS

This is a completion-led, legal-counterparty diligence case rather than a conventional growth-platform profile.

A. STRENGTHS

Established NCR brand recall, a sizeable Sector 99 project, renewed RERA supervision and existing construction provide a basis for completion.

B. CONCERNS

Parent liquidation, long delays, multiple legal entities, limited financial disclosure and customer disputes materially weaken visibility.

C. OPPORTUNITIES

Successful completion can unlock unsold inventory and resale value as Dwarka Expressway connectivity and neighbourhood occupancy improve.

D. WATCHPOINTS

Track Section 7(3) compliance, the 20 February 2027 deadline, tower-level OC or CC, quarterly RERA filings, escrow movement, lender releases, liquidation orders and SFIO-related court developments.

CONCLUSION

Assotech's legacy parent is no longer active as a normal developer and remains in liquidation. Assotech Moonshine, however, remains an active project company responsible for Assotech Blith under renewed RERA supervision. The location and existing development offer recovery potential, but legal separation, historical delays and weak disclosure demand enhanced diligence. Buyer confidence should follow verified approvals, escrow discipline and physical handover, not brand familiarity alone.

DISCLAIMER

This report is based on publicly available information only. It is intended for due-diligence and research purposes, not investment advice. All financial metrics, project statuses, legal proceedings, and regulatory information are point-in-time and may change. Buyers and investors should independently verify all information from official RERA portals, company filings, court records, rating reports, and legal advisors before making any decision.