Ansal Properties & Infrastructure Limited (APIL), a company currently undergoing Corporate Insolvency Resolution Process (CIRP), has made significant strides in its restructuring efforts. The company's Committee of Creditors (CoC) convened its fifth meeting on September 10, 2025, approving several crucial appointments and discussing various aspects of the ongoing insolvency process.

Key Appointments

The CoC has greenlit the appointment of Ms. Vanita Agarwal as the Secretarial Auditor for the financial year 2025-26. This appointment is in line with Section 204 of the Companies Act, 2013, and Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

In a move to ensure transparency and compliance, the committee also approved the appointment of M/s SLO Technologies Private Limited, operating under the name "Advarisk," as the Transaction Auditor. This firm will be responsible for determining avoidance transactions as per sections 43, 45, 50, and 66 of the Insolvency and Bankruptcy Code.

Changes in Subsidiary Management

A significant development was the approval for changes in the management of Ansal API Infrastructure Limited (AAIL), a wholly-owned subsidiary of APIL. The CoC sanctioned the appointment of two new directors, Mr. Avanish Kumar and Mr. Devesh Kumar, to AAIL's board, while also approving the replacement of existing directors.

Ongoing Insolvency Process

APIL has been under CIRP since February 25, 2025, following an order by the National Company Law Tribunal (NCLT), New Delhi Bench, Court-IV. The company's affairs, business, and assets are currently being managed by Resolution Professional Shri Navneet Kumar Gupta.

During the meeting, the CoC also:

• Reviewed and noted the updated list of creditors published by the Resolution Professional
• Discussed legal updates related to the CIRP
• Took note of the valuation progress made by appointed valuers
• Addressed the exclusion of certain days from the CIRP period due to an ongoing stay on Form G
• Updated the operational status of APIL as per regulatory requirements

Looking Ahead

As APIL navigates through its insolvency process, these recent developments demonstrate active efforts to restructure and manage the company's affairs. The appointments and management changes suggest a focus on transparency and effective governance during this critical period.

The resolution process continues under the supervision of Shri Navneet Kumar Gupta, with the next steps likely to involve further progress on valuation, addressing legal matters, and working towards a resolution plan for the company.

Stakeholders and investors will be keenly watching the outcomes of these efforts as Ansal Properties & Infrastructure works towards resolving its financial challenges and charting a path forward.

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.