Ansal Properties & Infrastructure Limited (APIL), a real estate company currently undergoing Corporate Insolvency Resolution Process (CIRP), has announced the scheduling of its 42nd Committee of Creditors meeting for the Fernhill project in Gurgaon, Haryana. The meeting is set to take place on September 24, 2025, as part of the ongoing insolvency proceedings for the project.

Background of the Insolvency Process

The Fernhill project was admitted into the insolvency process following a series of legal orders:

• On November 16, 2022, the National Company Law Tribunal (NCLT) initially passed an order admitting APIL into CIRP.
• Subsequently, on January 13, 2023, the National Company Law Appellate Tribunal (NCLAT) issued an order confining the Section 7 application to the 'Fernhill project' situated in District Gurgaon.

Current Management

The Fernhill project is currently managed by Resolution Professional Jalesh Kumar Grover, who was appointed specifically for this project. This arrangement is part of a broader restructuring of APIL's management:

• The company's overall affairs, business, and assets are being managed by Resolution Professional Navneet Kumar Gupta, appointed by the NCLT on February 25, 2025.
• Navneet Kumar Gupta is also overseeing "The Serene Residency Group Housing Project" in Sector ETA-II, Greater Noida, U.P.

Compliance with Regulations

The announcement of the 42nd Committee of Creditors meeting complies with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This regulation requires listed entities to disclose material events to the stock exchanges.

Implications for Stakeholders

The ongoing insolvency process and the scheduled creditors' meeting are significant events for various stakeholders:

1. Creditors: The meeting provides an opportunity for creditors to discuss and potentially make decisions regarding the Fernhill project's future.
2. Investors: Shareholders and potential investors should closely monitor these proceedings as they may impact the company's financial standing and future prospects.
3. Homebuyers: Those who have invested in the Fernhill project may receive updates on the project's status and potential resolution plans.

As APIL navigates through this insolvency process, the outcome of the 42nd Committee of Creditors meeting could play a crucial role in determining the future of the Fernhill project and potentially impact the company's overall restructuring efforts.

The company continues to fulfill its regulatory obligations by providing timely updates to the stock exchanges, ensuring transparency in its ongoing insolvency proceedings.

Ansal Properties & Infrastructure Limited (APIL), a company currently undergoing Corporate Insolvency Resolution Process (CIRP), conducted its fifth Committee of Creditors (CoC) meeting on September 10, 2025. The meeting, held via audio/video conferencing, lasted from 4:00 PM to 6:10 PM, reflecting the company's adherence to modern communication methods during its insolvency proceedings.

Key Agenda Items

The meeting covered several crucial points:

1. Appointment of Secretarial Auditor: Discussion and approval for appointing a Secretarial Auditor for the financial year 2025-2026, in compliance with Section 204 of the Companies Act, 2013.

2. Transaction Auditor Appointment: Deliberation on the appointment and fees of a Transaction Auditor to determine avoidance transactions as per sections 43, 45, 50, and 66 of the Insolvency and Bankruptcy Code.

3. Management Changes: Consideration of changes in the management of Ansal API Infrastructure Limited, a wholly-owned subsidiary of APIL.

4. Updated Creditors List: The committee took note of the updated list of creditors published by the Resolution Professional.

5. Valuation Progress: An update on the progress made by appointed valuers was presented.

6. Legal Updates: The CoC members and other stakeholders were briefed on legal matters pertaining to the CIRP of APIL.

Insolvency Process Status

APIL's insolvency proceedings were initiated by the National Company Law Tribunal (NCLT), New Delhi Bench, Court-IV in CP No.: IB 558(ND)/2024. The company's affairs, business, and assets are currently being managed by Shri Navneet Kumar Gupta, who was initially appointed as the Interim Resolution Professional and is now serving as the Resolution Professional.

Additional Notes

• The Serene Residency Group Housing Project in Greater Noida, U.P., is also under the management of Shri Navneet Kumar Gupta.
• The Fernhill Project in Gurgaon, Haryana, is being managed by Shri Jalesh Kumar Grover, a separate Resolution Professional.

Compliance with Regulations

The meeting and its proceedings were conducted in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This ensures transparency and adherence to regulatory requirements during the insolvency resolution process.

The ongoing CIRP for Ansal Properties and Infrastructure Limited represents a critical phase for the company, its creditors, and stakeholders. As the process unfolds, further updates are expected to shed light on the company's future direction and potential resolution outcomes.