Ansal Properties & Infrastructure Ltd has secured an interim order from the District Judge (Commercial) Saket Court, Delhi, maintaining status quo on 5,55,64,816 equity shares pledged by its promoters. The order, passed on June 16, 2026, restrains the defendants from creating any third-party rights in the securities provided by the company or its promoters until the next date of hearing. This legal move aims to prevent the potential sale of pledged shares, which the company argues could lead to its collapse in the market and cause significant losses to shareholders and property buyers.

The company filed a Commercial Civil Suit (CS Comm No. 3770/2026) against DMI Alternative Investment Fund, DMI Alternatives Private Limited, DMI Finance Private Limited, Vistra ITCL (India) Limited, and Trait IT Park Private Limited. Ansal Properties is seeking a decree of rendition of accounts and a permanent injunction to stop the defendants from invoking the pledge or creating third-party rights without completing forensic audits and providing advance notice.

Background of the Dispute

The dispute stems from financial facilities advanced by the defendants to Amarnath Properties Pvt. Ltd., which involved the pledge of 5,55,64,816 equity shares, constituting approximately 35.30% of Ansal Properties. The borrowers defaulted on repayment, leading to the declaration of Non-Performing Assets (NPA). While certain properties were sold to repay the debt, the pledged shares remained with the defendants.

Ansal Properties contends that the entire debt stands repaid following the sale of properties, including the Firoz Shah Road property and the SAS Nagar property. However, the defendants continue to hold the securities. The company alleges it is not a party to the loan agreements but is required to make disclosures regarding the pledge of shares by its promoters.

Court Order and Next Steps

The Hon'ble District Judge (Commercial), South East District, Saket Courts, Delhi, directed the parties to maintain status quo and restrained the defendants from creating third-party rights in the securities. The court has issued a notice to the defendants for settlement of issues, with the next hearing scheduled for July 4, 2026.

The company has disclosed that the Corporate Insolvency Resolution Process (CIRP) against it has been confined to its Lucknow and Rajasthan projects, which are currently managed by a Resolution Professional. Additionally, specific projects like Serene Residency in Greater Noida and Fernhill in Gurgaon are under separate management by Resolution Professionals.

Ansal Properties & Infrastructure Ltd will delay the finalization and declaration of its audited financial results for the fourth quarter and financial year ended March 31, 2026. The company cited the reconstitution of its Board on February 3 and February 5, 2026, as the primary reason for missing the regulatory deadline of May 30, 2026. This Board restructuring followed an order by the Hon'ble National Company Law Appellate Tribunal (NCLAT) dated January 7, 2026.

The newly appointed Board of Directors is currently reviewing the company's financial position, books of accounts, and overall operations. Consequently, the company requires additional time to complete the audit process and approve the results. This development was disclosed in a filing submitted to the stock exchanges on May 29, 2026, in compliance with Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The delay extends to previously reported unaudited financial results. The company had already informed the exchanges regarding delays in disseminating results for the second quarter and half-year ended September 30, 2025, as well as the third quarter and nine months ended December 31, 2025. The current filing confirms that the approval and declaration of these unaudited results remain pending.

The NCLAT order dated January 7, 2026, confined the Corporate Insolvency Resolution Process (CIRP) of the company, initiated on February 25, 2025, specifically to its Lucknow and Rajasthan projects. This decision was based on a settlement agreement dated March 3, 2022, between IL&FS Financial Services Limited and Ansal Properties & Infrastructure . Additionally, the Serene Residency project in Greater Noida and the Fernhill Project in Gurgaon are being managed by respective resolution professionals following separate tribunal approvals.

In line with regulatory protocols, the trading window for insiders has been closed since April 1, 2026. It will remain shut until 48 hours after the declaration of the audited financial results, adhering to the SEBI (Prohibition of Insider Trading) Regulations, 2015. The company stated it is making all possible efforts to finalize the results at the earliest and will provide necessary intimation regarding the board meeting for approval in due course.