Ansal Properties & Infrastructure recently conducted its 24th Committee of Creditors (CoC) meeting for the Serene Residency Group Housing Project, located in Sector ETA II, Greater Noida. The meeting, held on August 29, marks a significant milestone in the ongoing Corporate Insolvency Resolution Process (CIRP) for this specific project.

Meeting Details

The CoC meeting, which lasted from 11:00 AM to 12:30 PM, was conducted via audio/video conferencing. Key agenda items included:

• Roll call and quorum verification
• Review of minutes from the previous meeting held on July 31
• Updates on legal cases
• Operational status of the project

Insolvency Process Background

The Serene Residency Project entered the CIRP following an order by the National Company Law Tribunal (NCLT) dated October 20, 2023. Currently, the project's affairs are being managed by Resolution Professional Navneet Kumar Gupta, who was appointed by the NCLT in February.

Broader Context

It's worth noting that Ansal Properties & Infrastructure is facing broader financial challenges:

1. The company itself is undergoing a Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016.
2. The company's affairs, business, and assets are being managed by Navneet Kumar Gupta, who is now designated as the Resolution Professional.
3. Another project, the Fernhill Project in Gurgaon, is also under resolution, managed by a different resolution professional, Shri Jalesh Kumar Grover.

Regulatory Compliance

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has submitted a summary of the minutes from this 24th CoC meeting to the National Stock Exchange of India Limited and BSE Limited.

This meeting and its proceedings underscore the ongoing efforts to address the financial and operational challenges faced by Ansal Properties & Infrastructure, particularly concerning its Serene Residency project in Greater Noida. As the insolvency process continues, stakeholders will be keenly watching for any developments that might impact the project's future and the company's overall financial health.

Ansal Properties & Infrastructure Limited (APIL), a real estate company currently undergoing Corporate Insolvency Resolution Process (CIRP), has announced the scheduling of its 24th meeting of the Committee of Creditors for the 'Serene Residency Group Housing Project'. The meeting is set to take place on August 29, 2025, as per a regulatory filing by the company.

Project Details and Insolvency Status

The Serene Residency project, located in Sector ETA II, Greater Noida, Uttar Pradesh, has been under the CIRP since October 20, 2023, following an order from the National Company Law Tribunal (NCLT). This development comes as part of the broader insolvency proceedings affecting Ansal Properties and Infrastructure Limited.

Management Under Resolution Professionals

The affairs of APIL are currently being managed by Resolution Professional Shri Navneet Kumar Gupta, who was appointed by the NCLT, New Delhi. Notably, Shri Gupta is also overseeing the Serene Residency project. The company disclosed that another of its projects, the Fernhill Project in Gurgaon, Haryana, is under the management of a separate Resolution Professional, Shri Jalesh Kumar Grover.

Corporate Governance and Transparency

In line with regulatory requirements, APIL has provided prior intimation of this meeting to the stock exchanges. The company stated in its filing, "This is for your information and records," adhering to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Broader Context of APIL's Insolvency

It's important to note that Ansal Properties and Infrastructure Limited's insolvency proceedings began following an NCLT order dated February 25, 2025. The company's affairs, business, and assets are being managed under the Insolvency and Bankruptcy Code, 2016, reflecting the challenges faced by the real estate sector.

The scheduling of this creditors' meeting for the Serene Residency project represents an ongoing effort to address the financial and operational challenges faced by APIL. As the insolvency process continues, stakeholders will be closely watching the outcomes of such meetings and their potential impact on the company's future and its various projects.