Ansal Properties & Infrastructure Limited — Others, 09-07-2025: Corporate Insolvency Resolution Process

Ansal Properties and Infrastructure Limited (Fernhill Project) is under the Corporate Insolvency Resolution Process (CIRP), managed by Resolution Professional Mr. Jalesh Kumar Grover. The 39th Committee of Creditors (CoC) meeting saw participation from about 62 homebuyers and an unsecured financial creditor. Key updates include continued delays in receiving detailed retrofitting expense estimates due to renegotiations on auditor fees, now expected within 10-15 days. The RP reported ongoing efforts to secure construction approvals from DTCP, with meetings planned to expedite this process. Multiple litigations related to the project remain adjourned pending settlement discussions with Samyak Projects Pvt. Ltd. Following a tribunal order recognizing Samyak land as part of the Fernhill Project, the CoC is considering filing an application to expand the CIRP scope to include Samyak, pending final voting. Homebuyers expressed concerns over delays, fair value determinations for Samyak’s involvement, and possession timelines. The RP confirmed construction will proceed under CIRP supervision, with interim financing from the Resolution Applicant (Krish Infrastructure Pvt. Ltd.), and payments from homebuyers will be collected by the RP until plan approval. The RP emphasized efforts to ensure a fair and timely resolution, including addressing legal challenges, coordinating with authorities, and maintaining regular communication with homebuyers.