Ansal Properties & Infrastructure Limited (APIL), a prominent real estate developer in India, has announced a change in the schedule for its upcoming Committee of Creditors (CoC) meeting. The company, currently undergoing Corporate Insolvency Resolution Process (CIRP), has rescheduled its 5th CoC meeting from September 8, 2025, to September 10, 2025.

Corporate Insolvency Resolution Process

The rescheduling of the CoC meeting comes amidst APIL's ongoing Corporate Insolvency Resolution Process, which was initiated following an order by the National Company Law Tribunal (NCLT), New Delhi Bench. The CIRP commenced on February 25, 2025, as per the company's intimation to the stock exchanges.

Project Management During CIRP

Despite the ongoing insolvency proceedings, APIL continues to manage multiple housing projects across different locations:

1. The Serene Residency Group Housing Project: Located in Sector ETA-II, Greater Noida, U.P., this project is being managed by Shri Navneet Kumar Gupta, who serves as the Resolution Professional for the project.

2. The Fernhill Project: Situated in Gurgaon, Haryana, this development is under the management of Shri Jalesh Kumar Grover, acting as the Resolution Professional for the project.

Compliance with Regulatory Requirements

The rescheduling of the CoC meeting has been duly communicated to the stock exchanges in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This adherence to regulatory norms underscores APIL's commitment to transparency during the CIRP process.

Company Background

Ansal Properties and Infrastructure Limited, established in 1967, has been a significant player in the Indian real estate sector for over five decades. The company's registered office is located at 115, Ansal Bhawan, 16, Kasturba Gandhi Marg, New Delhi-110 001.

As the insolvency proceedings continue, stakeholders and investors will be closely watching the outcomes of the rescheduled Committee of Creditors meeting, which could have significant implications for the future of Ansal Properties and Infrastructure Limited.

Ansal Properties & Infrastructure Limited (APIL) conducted its 41st adjourned Committee of Creditors (CoC) meeting for the Fernhill Project in Gurgaon on September 3, 2025, as the company continues to navigate through its Corporate Insolvency Resolution Process (CIRP). The meeting, chaired by Resolution Professional (RP) Jalesh Kumar Grover, addressed several key issues and provided updates on the project's status.

Project Updates and Structural Audit

• Construction work has commenced on Towers N and P of the Fernhill Project
• Engineer Mr. Chimman Singh hired at a monthly remuneration of Rs. 60,000 to oversee construction activities
• Structural audit report estimates retrofitting costs at Rs. 1.02 crore, slightly higher than the initial quote of Rs. 1.02 crore

Ongoing Litigation and Settlement Discussions

• Multiple applications pending before the National Company Law Tribunal (NCLT)
• Settlement discussions with Samyak Projects Private Limited remain unsuccessful
• Disputes over fair value computation and unsold area calculations
• Samyak Projects declined to accept the RP's calculated amount and is re-computing their entitlement

DTCP Approval and Construction Plans

• Department of Town and Country Planning (DTCP) acknowledged RP's authority to proceed with construction
• Cleaning work at the site has commenced
• Inventory of fit-outs and repair requirements underway
• RP aims to complete Towers N and P within 6-8 months before starting work on remaining towers

Financial Matters

• Rs. 20 crore total interim finance approved in Resolution Plan
• Rs. 1 crore allocated for retrofitting expenses
• If Resolution Plan by Krish Infrastructure Private Limited is approved by NCLT, no interest will apply
• If rejected, 15% interest rate will become payable

Homebuyer Concerns

• 67 homebuyers participated virtually in the meeting
• Concerns raised about:
  • Timeline for obtaining Occupancy Certificates
  • Possibility of reselling allotted units
  • Status of belated claims
• RP addressed concerns:
  • Occupancy Certificates for Towers N and P can be applied for separately upon completion
  • 42 belated claims received, 41 verified, amounting to Rs. 24.34 crore

Next Steps

• Next NCLT hearing scheduled for September 8, 2025
• RP to share detailed construction plan within a week
• Efforts to expedite resolution of pending applications before NCLT

As Ansal Properties & Infrastructure Limited continues its journey through the insolvency process, the focus remains on completing the Fernhill Project and addressing the concerns of all stakeholders involved.