Ansal Properties & Infrastructure Limited — Others, 03-02-2025: Corporate Insolvency Resolution Process

The Committee of Creditors (CoC) of Ansal Properties and Infrastructure Limited, overseeing the Sushant Serene Residency Group Housing Project, convened to discuss operational updates and legal matters. The Resolution Professional (RP) highlighted the completion of road construction and progress on Tower-5, where 35 flats are finished and other essential works are nearing completion. Construction costs for Tower-5 have risen by 25% due to material price increases. The RP confirmed that all expenditures during the CIRP period remain within the approved budget. Additionally, the Indian Bank provided an interim finance tranche of ₹80 lakhs. This positive update may enhance investor sentiment by demonstrating project momentum, although rising costs present a potential risk.