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Ansal Properties Discloses ₹94.32 Cr Loan Default for Q2 FY27; Total Indebtedness at ₹183.37 Cr
Ansal Properties & Infrastructure Limited submitted its quarterly loan default disclosures for the quarter ended September 30, 2026. The company reported a principal default of ₹94.32 Cr out of ₹96.98 Cr total outstanding bank/financial institution loans. Total financial indebtedness of the listed entity stood at ₹183.37 Cr, against a market cap of ₹63 Cr and negative net worth of ₹-1,816 Cr. Several company projects, including Fernhill and Lucknow/Rajasthan projects, remain under project-specific Corporate Insolvency Resolution Processes (CIRP).
Confidence: HIGH
What changedPeriodic disclosure confirming that default on bank facilities continued beyond 30 days as of the quarter ended September 30, 2026.
Why it mattersConfirms severe ongoing balance sheet distress, with almost all bank borrowings (₹94.32 Cr of ₹96.98 Cr) in default against total indebtedness of ₹183.37 Cr and deeply negative net worth.
Bank loan principal default: 94.32 CrTotal bank loan outstanding: 96.98 CrTotal financial indebtedness: 183.37 CrIndebtedness vs Market Cap: ~291%
📅 Short termTrading is likely to remain subdued and distressed as lenders continue recovery actions and resolution professionals manage key project assets.
📈 Long termThe company's viability hinges entirely on the resolution plans under IBC for individual projects and settling lender liabilities amid a negative net worth of ₹-1,816 Cr.
⚠ Risk flags
- Severe ongoing loan defaults (97% of bank borrowing in default)
- Ongoing Corporate Insolvency Resolution Processes (CIRP)
- Negative net worth of ₹-1,816 Cr
Key Highlights
Principal default on loans from banks/FIs stands at ₹94.32 Cr as of September 30, 2026
Total bank/FI loan outstanding principal is ₹96.98 Cr, meaning ~97% of bank facilities are in default
Total financial indebtedness (short-term and long-term principal) stands at ₹183.37 Cr
Unlisted debt securities (NCDs/NCRPS) outstanding and default reported as Nil
Project-wise CIRP ongoing for Fernhill, Serene Residency, and Lucknow/Rajasthan projects
👀 What to Watch
Track the outcomes of the ongoing CIRP proceedings across the Lucknow, Rajasthan, and Fernhill projects, as well as implementation progress on Serene Residency's approved resolution plan.
NCLT Approves Fernhill Project Resolution Plan; ₹20 Cr Infusion by Krish Infrastructure
The National Company Law Tribunal (NCLT), New Delhi, has approved the Resolution Plan submitted by Krish Infrastructure Private Limited for Ansal Properties' 'Fernhill Project' in Gurgaon. Under the project-specific CIRP, ₹20 Cr will be infused exclusively for project construction and revival. There is no change to the equity shareholding pattern or corporate-level capital structure of the company. Meanwhile, separate insolvency proceedings continue for the company's Lucknow and Rajasthan projects.
Confidence: HIGH
What changedNCLT granted final approval to the project-specific resolution plan for the Fernhill Project, bringing in Krish Infrastructure as the new developer.
Why it mattersResolves insolvency for the Gurgaon project and secures ₹20 Cr in construction funding without diluting corporate equity, though broader insolvency proceedings for other assets remain ongoing.
Funds infused for construction: ₹20 CrInfusion vs Market Cap: ~38.5%CoC approval vote: 100%Parent shareholding change: No Change
📅 Short termClear legal pathway allows handover of the Fernhill site to Krish Infrastructure to resume construction.
📈 Long termWhile project-specific resolutions ring-fence individual assets, the parent company remains severely stressed with negative net worth (-₹1,816 Cr) and unresolved proceedings in other regions.
⚠ Risk flags
- Ongoing CIRP across Lucknow and Rajasthan projects
- Severely negative net worth of -₹1,816 Cr
- Execution and delivery risks during project construction
Key Highlights
NCLT approved the resolution plan for the Fernhill Project (Gurgaon) under Section 31 of IBC.
Krish Infrastructure Private Limited approved as the resolution applicant with 100% CoC voting share.
₹20 Cr will be infused by the incoming resolution applicant specifically for project construction.
Shareholding pattern remains unchanged with 0% dilution at the parent company level.
👀 What to Watch
Track the implementation timeline of the Fernhill revival plan and follow legal developments regarding CIRP in the company's Lucknow and Rajasthan projects.
Ansal Properties Orders 10-Year Forensic Audit for Alleged Fund Diversion and Irregularities
Ansal Properties & Infrastructure's newly reconstituted Board has initiated a comprehensive forensic audit covering the 10-year period from April 1, 2016, to March 31, 2026. The Board appointed M/s SLO Technologies Private Limited (AdvaRisk) effective August 19, 2026, following preliminary reviews indicating potential undervaluation, illegal related-party transactions, misapplication of borrowed funds, and breaches in RERA-designated accounts. The company, which has a negative net worth of ₹-1,816 Cr and multiple projects under insolvency resolution, has also revoked and reassigned execution powers for its Sushant Taj City project.
Confidence: HIGH
What changedThe Board has officially mandated a third-party forensic investigation into past transactions (2016–2026) and replaced authorized signatories for the Sushant Taj City Agra project.
Why it mattersConfirms suspected financial mismanagement, fund diversion, and RERA non-compliance over a decade, which could uncover unquantified liabilities or asset recovery opportunities for a company already in severe distress (Net Worth: ₹-1,816 Cr).
Forensic audit start period: 01st April 2016Forensic audit end period: 31st March 2026Auditor appointment effective date: 19th August, 2026Company Net Worth: ₹-1816 CrMarket Capitalization: ₹53 Cr
📅 Short termHeightened volatility and governance scrutiny as the newly appointed forensic auditor reviews historical books and transactions across past projects.
📈 Long termThe audit outcome could lead to regulatory actions (SEBI, MCA, RERA) or legal recovery proceedings against erstwhile management, while ongoing project-level CIRP resolutions dictate underlying asset recoveries.
⚠ Risk flags
- Potential unquantified liabilities and legal actions from forensic audit findings
- Company is in severe financial distress with negative net worth (₹-1,816 Cr)
- Ongoing CIRP proceedings across multiple key projects
Key Highlights
Forensic audit initiated for a 10-year period from 01st April 2016 to 31st March 2026
M/s SLO Technologies Private Limited (AdvaRisk) appointed as forensic auditor w.e.f. 19th August, 2026
Preliminary review flagged potential fund diversions, unapproved RPTs, and RERA account irregularities
Cancellation and reassignment of execution authorisations for the Sushant Taj City, Agra Project
Resolution process status noted: CIRP confined to Lucknow and Rajasthan, Serene Residency plan approved on 06th October, 2025
👀 What to Watch
Track the findings and completion timeline of the forensic audit report by AdvaRisk and any subsequent regulatory filings or legal actions against erstwhile management.
₹94.32 Cr Default on Bank Loans; Total Indebtedness at ₹183.37 Cr
Ansal Properties & Infrastructure Limited (APIL) has reported a principal default of ₹94.32 crore on loans from banks and financial institutions for the quarter ended June 30, 2026. This default accounts for approximately 97% of the ₹96.98 crore outstanding principal from these lenders. The company's total financial indebtedness, including short and long-term debt, stands at ₹183.37 crore. APIL remains under a project-wise Corporate Insolvency Resolution Process (CIRP) for its Lucknow and Rajasthan projects, while a resolution plan for the Serene Residency project was approved in October 2025.
Confidence: HIGH
What changedThe company has formally disclosed continued defaults on nearly all its bank loan principal obligations for the quarter ended June 2026.
Why it mattersThe filing confirms the company's inability to service its debt despite ongoing insolvency proceedings for specific projects, highlighting a persistent liquidity crisis and negative net worth.
Principal Default Amount: ₹94.32 CrTotal Financial Indebtedness: ₹183.37 CrDefault vs Total Indebtedness: 51.4%Net Worth: ₹-1816 CrTTM Revenue: ₹768 Cr
📅 Short termThe stock is likely to remain under pressure due to the confirmation of continued defaults and the complexities of the project-wise insolvency process.
📈 Long termLong-term recovery is contingent on the successful resolution of ongoing CIRP projects and the company's ability to settle NPA borrowings through One-Time Settlements (OTS).
⚠ Risk flags
- Ongoing Corporate Insolvency Resolution Process (CIRP)
- Negative Net Worth of ₹-1816 Cr
- High default rate on bank principal (97%)
- Operational liquidity constraints
Key Highlights
Principal default of ₹94.32 crore reported against an outstanding bank/FI principal of ₹96.98 crore.
Total financial indebtedness (principal) reached ₹183.37 crore as of June 30, 2026.
CIRP is currently confined to Lucknow and Rajasthan projects per NCLAT order dated January 7, 2026.
Resolution plan for the Serene Residency project was approved by NCLT on October 6, 2025.
Company reports a negative net worth of ₹-1816 crore and TTM PAT of ₹-159 crore.
👀 What to Watch
Investors should monitor the progress of the project-wise CIRP and the execution of the approved resolution plan for the Serene Residency project. The severe negative net worth and ongoing defaults indicate high structural risk.
Ansal Properties Secures Court Order Restraining Sale of 5.55 Crore Pledged Shares
Ansal Properties & Infrastructure Ltd (APIL) has obtained a status quo order from the Saket District Court, Delhi, against DMI Alternative Investment Fund and other defendants. The order restrains the defendants from creating any third-party rights in 5,55,64,816 equity shares pledged by the promoters. The company is seeking a rendition of accounts and forensic audits before any invocation of the pledge can occur, with the next hearing scheduled for July 4, 2026.
Key Highlights
Court restrained defendants from creating third-party rights in 5,55,64,816 pledged equity shares.
The suit was filed against DMI Alternative Investment Fund, Vistra ITCL, and Trait IT Park for rendition of accounts.
The status quo order is effective until the next date of hearing on July 4, 2026.
Company demands a minimum of seven days' advance notice before any invocation of the pledge.
APIL remains under project-specific Corporate Insolvency Resolution Process (CIRP) for various locations.
👀 What to Watch
Investors should monitor the outcome of the July 4 hearing as the current relief is temporary. Extreme caution is advised given the company's ongoing insolvency proceedings across multiple projects.
ANSALAPI Approves Backlog of Financial Results and Updates Director Retirement Status
Ansal Properties & Infrastructure Limited has cleared a significant reporting backlog by approving financial results for five distinct periods across FY2024-25 and FY2025-26. The Board changed Smt. Kanta Devi's status to a director liable to retire by rotation and appointed new statutory auditors for a five-year term through 2030. While the company is addressing reporting delays, it remains under project-specific Corporate Insolvency Resolution Process (CIRP) for its Lucknow and Rajasthan developments. No dividend was recommended for the fiscal year ended March 31, 2025.
Key Highlights
Approved financial results for five reporting periods: Q3 FY25, FY25 Annual, Q1 FY26, Q2 FY26, and Q3 FY26.
Changed status of Smt. Kanta Devi (Non-Executive Woman Director) to 'liable to retire by rotation' effective June 17, 2026.
Appointed MRKS and Associates as Statutory Auditors for a five-year tenure from the 58th to the 63rd AGM.
Confirmed that CIRP is currently confined to Lucknow and Rajasthan projects following a settlement with IL&FS.
Noted a Standard Operating Procedure (SOP) fine from stock exchanges regarding the late submission of Q3 FY26 results.
👀 What to Watch
Investors should remain cautious as the company is still navigating project-specific insolvency; monitor the progress of resolution plans and the company's ability to maintain regular reporting cycles hereafter.
Ansal API Approves Backlog Financials and Appoints Auditors Amid Ongoing CIRP
Ansal Properties & Infrastructure Limited (APIL) has approved a massive backlog of financial results ranging from Q3 FY2024-25 to Q3 FY2025-26, which were previously disseminated without board approval due to insolvency proceedings. The company appointed MRKS and Associates as Statutory Auditors for a five-year term (2025-2030) and J.D. Associates as Cost Auditors for FY2025-26. Notably, the company admitted an inability to provide consolidated financial results for FY2025-26 quarters due to difficulties in obtaining data from subsidiaries. The Corporate Insolvency Resolution Process (CIRP) is currently confined to specific projects in Lucknow and Rajasthan.
Key Highlights
Approved financial results for five distinct periods including the full year ended March 31, 2025.
Appointed MRKS and Associates as Statutory Auditors for a 5-year tenure until the 2030 AGM.
CIRP remains active but restricted to Lucknow and Rajasthan projects per NCLAT order dated January 07, 2026.
Failed to submit consolidated results for FY2025-26, citing lack of access to subsidiary financial data.
Noted SOP fines from stock exchanges for non-compliance with Regulation 33 regarding timely financial submissions.
👀 What to Watch
Investors should remain highly cautious as the company is struggling with compliance and subsidiary data transparency despite catching up on filings. Monitor the resolution progress of the Lucknow and Rajasthan projects which remain under the insolvency process.
Ansal Properties Skips Dividend for FY25; Approves Delayed Financials Amid Ongoing Insolvency
Ansal Properties & Infrastructure (ANSALAPI) has not recommended a dividend for the financial year ended March 31, 2025. The company is currently navigating a project-wise Corporate Insolvency Resolution Process (CIRP) for its Lucknow, Rajasthan, and Greater Noida projects, which has led to significant delays in financial reporting. In a board meeting held on June 17, 2026, the company approved a backlog of financial results spanning from Q3 FY2024-25 to Q3 FY2025-26. Furthermore, the company reported difficulties in consolidating subsidiary data, resulting in the submission of standalone results for recent quarters.
Key Highlights
No dividend recommended for the financial year ended March 31, 2025.
Board approved multiple pending financial results from Q3 FY25 through Q3 FY26 to clear reporting backlogs.
CIRP remains active for Lucknow and Rajasthan projects as per NCLAT order dated January 7, 2026.
Company received SOP fines from stock exchanges on March 17, 2026, for non-compliance with reporting timelines.
Inability to provide consolidated financial results for FY2025-26 due to difficulties in obtaining data from subsidiary legal entities.
👀 What to Watch
Investors should exercise extreme caution due to the ongoing insolvency proceedings and significant reporting delays which indicate high operational risk. The lack of consolidated financial data makes it difficult to assess the true health of the entire group.
Ansal API Reports FY25 Net Loss of ₹134.24 Cr; Clears Backlog of Financial Results
Ansal Properties & Infrastructure (Ansal API) has approved a significant backlog of financial results covering Q3 FY25 through Q3 FY26 in a single board meeting. For the full year ended March 31, 2025, the company reported a standalone total income of ₹284.92 crore and a net loss of ₹134.24 crore. The company continues to operate under a project-wise Corporate Insolvency Resolution Process (CIRP) for its Lucknow and Rajasthan projects. No dividend has been recommended for FY 2024-25, and the statutory auditors have issued a modified opinion on the financial statements.
Key Highlights
Reported a standalone net loss of ₹134.24 crore for FY 2024-25, slightly improved from a loss of ₹140.83 crore in FY 2023-24.
Total standalone income for FY 2024-25 decreased to ₹284.92 crore from ₹338.38 crore in the previous fiscal year.
Cleared a massive reporting backlog by approving results for five distinct periods (Q3 FY25, Q4 FY25, Q1 FY26, Q2 FY26, and Q3 FY26).
The Corporate Insolvency Resolution Process (CIRP) is currently confined to specific projects in Lucknow and Rajasthan per NCLAT orders.
The Board appointed MRKS and Associates as Statutory Auditors for a five-year term from 2025 to 2030, subject to shareholder approval.
👀 What to Watch
Investors should exercise extreme caution as the company remains in a distressed state with significant annual losses and ongoing insolvency proceedings. While the clearing of the financial reporting backlog improves transparency, the modified audit opinion and project-wise CIRP indicate high structural risks.
Ansal API to Hold 53rd CoC Meeting for Fernhill Project on June 15, 2026
Ansal Properties & Infrastructure Limited (APIL) has scheduled the 53rd Committee of Creditors (CoC) meeting for its Fernhill Project in Gurgaon for June 15, 2026. The company is currently undergoing a project-wise Corporate Insolvency Resolution Process (CIRP) as per NCLAT orders. While the Serene Residency project's resolution plan was approved in October 2025, other projects including Fernhill, Lucknow, and Rajasthan remain under active insolvency proceedings. This meeting indicates the ongoing effort to resolve the debt associated with the specific Gurgaon-based project.
Key Highlights
53rd Meeting of the Committee of Creditors for the Fernhill Project scheduled for June 15, 2026.
Project-wise CIRP for Fernhill was mandated by an NCLAT order dated January 13, 2023.
Separate insolvency proceedings are active for Lucknow and Rajasthan projects following a January 7, 2026, order.
Resolution plan for the Serene Residency Group Housing Project was already approved by NCLT on October 6, 2025.
👀 What to Watch
Investors should remain cautious as project-wise insolvency proceedings often lead to significant equity dilution or total loss for shareholders. Monitor the outcomes of CoC meetings for any final resolution plans that may impact the company's overall valuation.
Ansal Properties Reports Further Delay in Q4 and FY26 Audited Financial Results
Ansal Properties & Infrastructure Limited has announced a delay in filing its audited financial results for the quarter and year ended March 31, 2026, missing the May 30 deadline. This delay is attributed to a major board reconstitution in February 2026 following an NCLAT order that confined insolvency proceedings to specific projects. The company also has a backlog of pending results for Q2 and Q3 of FY26, which remain undeclared. The new board is currently reviewing the company's financial position and books of accounts to finalize the reporting.
Key Highlights
Missed the SEBI-stipulated deadline of May 30, 2026, for filing FY26 audited financial results.
Board was reconstituted on February 3 and 5, 2026, following an NCLAT order dated January 7, 2026.
Insolvency proceedings (CIRP) are now confined specifically to Lucknow and Rajasthan projects.
Financial results for Q2 and Q3 of FY26 also remain pending and undeclared.
Trading window remains closed from April 1, 2026, until 48 hours after the results are eventually declared.
👀 What to Watch
Investors should remain highly cautious as the company is facing significant governance and reporting challenges with three consecutive quarters of missing financial data. The ongoing partial insolvency process and lack of financial transparency represent high risk for equity holders.
Ansal API: CoC Approves CIRP Expenses for Fernhill Project in 52nd Meeting
The Committee of Creditors (CoC) for Ansal Properties & Infrastructure's Fernhill Project in Gurugram held its 52nd meeting on May 20, 2026. The primary outcome was the ratification and approval of expenses incurred during the Corporate Insolvency Resolution Process (CIRP) up to May 10, 2026. The company is currently undergoing project-wise insolvency, with different Resolution Professionals managing various projects including Fernhill, Lucknow, and Rajasthan. This update signifies ongoing administrative progress within the insolvency framework for the Gurugram-based project.
Key Highlights
CoC ratified and approved CIRP expenses for the Fernhill Project incurred until May 10, 2026.
The meeting held on May 20, 2026, marks the 52nd CoC meeting specifically for the Fernhill Project.
Company is under project-wise insolvency; Lucknow and Rajasthan projects are managed by a separate Resolution Professional.
Resolution Plan for the Serene Residency Group Housing Project was already approved by NCLT on October 06, 2025.
👀 What to Watch
Investors should exercise extreme caution as the company is under project-wise insolvency proceedings. Monitor the progress of resolution plans for individual projects like Fernhill and Lucknow to assess potential recovery values.
Ansal API: CoC Approves CIRP Expenses for Fernhill Project in 52nd Meeting
Ansal Properties & Infrastructure Limited (APIL) has reported the outcome of the 52nd Committee of Creditors (CoC) meeting for its Fernhill Project in Gurugram. The CoC has ratified and approved the expenses incurred during the Corporate Insolvency Resolution Process (CIRP) up to May 10, 2026. The company is currently undergoing project-wise insolvency, with different projects like Fernhill, Serene Residency, and Lucknow/Rajasthan units being managed by separate Resolution Professionals under various NCLT/NCLAT orders.
Key Highlights
CoC approved CIRP expenses for the Fernhill Project incurred until May 10, 2026
Fernhill Project insolvency is being managed independently by Resolution Professional Jalesh Kumar Grover
Resolution plan for the Serene Residency Group Housing Project was previously approved on October 6, 2025
CIRP for Lucknow and Rajasthan projects was confined by NCLAT order dated January 7, 2026
👀 What to Watch
Investors should exercise extreme caution as the company is undergoing multiple project-wise insolvency proceedings which often lead to significant equity dilution. Monitor the final resolution plans for each project to understand the residual value, if any, for equity shareholders.
Ansal API: 52nd CoC Meeting for Fernhill Project Insolvency Scheduled for May 20, 2026
Ansal Properties and Infrastructure Limited (APIL) has announced the 52nd Meeting of the Committee of Creditors (CoC) for its Fernhill project in Gurgaon, scheduled for May 20, 2026. The company is currently undergoing project-wise Corporate Insolvency Resolution Process (CIRP) as mandated by the NCLAT. While the resolution plan for the Serene Residency project was approved in October 2025, the Fernhill and Lucknow/Rajasthan projects remain under active insolvency proceedings. This meeting is a critical step in the ongoing legal efforts to resolve the company's significant debt obligations project-by-project.
Key Highlights
52nd CoC meeting for the Fernhill project (Gurgaon) to be held on May 20, 2026.
Project-wise CIRP is being conducted following NCLAT orders dated January 13, 2023, and January 7, 2026.
Resolution plan for the Serene Residency project was previously approved by NCLT on October 6, 2025.
Lucknow and Rajasthan projects are also under CIRP under a separate Resolution Professional as per settlement agreements.
👀 What to Watch
Investors should remain extremely cautious as the company is under multiple insolvency proceedings which pose a high risk of equity dilution or loss. Monitor the outcome of the CoC meeting for any updates on the resolution plan for the Fernhill project.
Ansal Properties: 51st CoC Meeting for Fernhill Project Held; Next Hearing on May 8, 2026
Ansal Properties & Infrastructure Limited (APIL) has disclosed the minutes of the 51st Committee of Creditors (CoC) meeting for its Fernhill Project in Gurgaon. The project is undergoing a project-wise Corporate Insolvency Resolution Process (CIRP) separate from other company assets. The meeting focused on legal updates, including a stay on an IBBI order against the Resolution Professional and ongoing Section 66 applications. Stakeholders are awaiting the next NCLT hearing scheduled for May 8, 2026, to determine further progress in the resolution.
Key Highlights
51st CoC meeting for the Fernhill Project was held on April 21, 2026, with 100% quorum represented by homebuyers and unsecured creditors.
The Serene Residency project's resolution plan was previously approved by NCLT on October 6, 2025.
Multiple legal applications including IA 2957/2024 and IA 3022/2024 are listed for a critical hearing on May 8, 2026.
The High Court has stayed an IBBI order that previously challenged the Resolution Professional's authority to represent the CoC.
👀 What to Watch
Equity investors should exercise extreme caution as insolvency proceedings often result in significant dilution or total loss for shareholders. Monitor the project-wise resolution outcomes and the upcoming May 8 court hearing closely.
SC Disposes Appeals; Ansal API CIRP Confined to Lucknow and Rajasthan Projects
The Supreme Court has disposed of appeals regarding Ansal API's insolvency, upholding the NCLAT order that limits the Corporate Insolvency Resolution Process (CIRP) to specific projects in Lucknow and Rajasthan. This follows a March 2022 settlement with IL&FS Financial Services. Promoters have pledged full cooperation in the ongoing proceedings to ensure an expeditious resolution under the IBC. Meanwhile, the resolution plan for the Serene Residency project was approved in October 2025, and the Fernhill project CoC meeting is scheduled for April 21, 2026.
Key Highlights
Supreme Court disposed of Civil Appeal Nos. 807-808/2026, directing CIRP to proceed expeditiously.
CIRP is restricted to Lucknow and Rajasthan projects as per NCLAT order dated January 7, 2026.
Resolution plan for the Serene Residency project was approved by NCLT on October 6, 2025.
The 51st CoC meeting for the Fernhill Project in Gurgaon is scheduled for April 21, 2026.
Promoters have provided a legal undertaking to the Supreme Court to extend full cooperation in CIRP.
👀 What to Watch
Investors should exercise extreme caution as the company remains under project-wise insolvency proceedings. Monitor the progress of the Lucknow and Rajasthan resolution processes and the outcome of the upcoming Fernhill CoC meeting.
SC Upholds Project-Wise CIRP for Ansal API; Insolvency Confined to Lucknow & Rajasthan Projects
The Supreme Court of India has upheld the NCLAT order directing that the Corporate Insolvency Resolution Process (CIRP) for Ansal Properties & Infrastructure be confined to its Lucknow and Rajasthan projects. This project-wise insolvency approach follows a settlement with IL&FS Financial Services and avoids a total company-wide freeze. The court has ordered the CIRP to proceed expeditiously, with promoters pledging full cooperation. Additionally, a resolution plan for the Serene Residency project has already been approved by the NCLT as of October 2025.
Key Highlights
Supreme Court order dated April 16, 2026, confirms CIRP is limited to Lucknow and Rajasthan projects.
Promoters have officially undertaken to cooperate fully with the Resolution Professional in the CIRP.
NCLT approved a Resolution Plan for the Serene Residency project earlier on October 6, 2025.
The court disposed of a writ petition from homebuyers, allowing them to pursue other legal remedies.
CIRP proceedings are mandated to proceed expeditiously under the Insolvency and Bankruptcy Code.
👀 What to Watch
Investors should exercise extreme caution as the company remains under the Insolvency and Bankruptcy Code framework. Monitor the progress of project-specific resolutions to see if the company can successfully ring-fence its other assets.
Supreme Court Disposes Appeals; CIRP for Ansal API Projects to Proceed Expeditiously
The Hon'ble Supreme Court of India has disposed of the appeals filed by IL&FS Financial Services and homebuyers, declining to interfere with the NCLAT's prior order. The Corporate Insolvency Resolution Process (CIRP) for Ansal API will now proceed expeditiously, specifically focused on the Lucknow and Rajasthan projects as per a 2022 settlement. The erstwhile promoters have formally undertaken to extend full cooperation in the insolvency proceedings. This provides legal clarity on the scope of the insolvency process, which is currently managed by appointed Resolution Professionals.
Key Highlights
Supreme Court disposed of Civil Appeal Nos. 807-808/2026 and Writ Petition No. 453/2026 on April 16, 2026.
CIRP remains confined to Lucknow and Rajasthan projects following a settlement agreement dated March 3, 2022.
Promoters have provided a legal undertaking to the Supreme Court to extend full cooperation in the CIRP process.
Resolution plan for the Serene Residency Group Housing Project was previously approved by NCLT on October 6, 2025.
The court mandated that CIRP proceedings must proceed further expeditiously in accordance with the IBC.
👀 What to Watch
Investors should exercise extreme caution as the company remains under the Corporate Insolvency Resolution Process, which often results in significant equity dilution. Monitor the progress of the resolution plans for the Lucknow and Rajasthan projects to assess potential recovery values.
Ansal Properties Clarifies Non-Submission of Q1 FY26 Consolidated Results Amid CIRP
Ansal Properties & Infrastructure Limited (APIL) has responded to NSE's clarification request regarding the non-submission of consolidated financial results for the quarter ended June 30, 2025. The company stated that the delay was due to the Corporate Insolvency Resolution Process (CIRP) initiated in February 2025 and a lack of data from subsidiaries. Following a January 2026 NCLAT order, the CIRP has been narrowed to specific projects in Lucknow and Rajasthan, and the Board was reconstituted in February 2026. The company intends to address all pending financial results in upcoming board meetings.
Key Highlights
CIRP initiated on Feb 25, 2025, was confined to Lucknow and Rajasthan projects by NCLAT on Jan 7, 2026
Board of Directors was reconstituted on Feb 3 and Feb 8, 2026, following the NCLAT order
Standalone results for Q1 FY26 were submitted on Dec 15, 2025, but consolidated results remain pending
Consolidated results were delayed as subsidiaries did not provide financial data to the parent company
Resolution plan for the Serene Residency Group Housing Project was approved by NCLT on Oct 6, 2025
👀 What to Watch
Investors should exercise extreme caution as the company is undergoing project-specific insolvency proceedings and has significant reporting delays. Monitor the next board meeting for the release of consolidated financial statements and updates on the resolution process.
Ansal API Trading Window Closed Since Oct 2025 Amid Delayed Results and CIRP
Ansal Properties & Infrastructure Limited has announced the continued closure of its trading window for the quarter and year ending March 31, 2026. The window has remained closed since October 1, 2025, because the company has failed to declare financial results for Q2 and Q3 of FY 2025-26. Furthermore, the company is undergoing project-wise Corporate Insolvency Resolution Process (CIRP) for its Lucknow and Rajasthan projects following an NCLAT order on January 7, 2026. Other major projects like Fernhill and Serene Residency are also under the management of Resolution Professionals, indicating significant financial instability.
Key Highlights
Trading window closed since October 1, 2025, due to non-declaration of Q2 and Q3 FY26 results
NCLAT order dated January 7, 2026, limits CIRP to Lucknow and Rajasthan projects
Resolution Plan for Serene Residency project was approved by NCLT on October 6, 2025
Company cited delays in disseminating results for periods ended September 30 and December 31, 2025
Multiple projects currently managed by Resolution Professionals Navneet Kumar Gupta and Jalesh Kumar Grover
👀 What to Watch
Investors should exercise extreme caution as the company is in project-wise insolvency and has failed to provide financial transparency for three consecutive quarters. The ongoing legal proceedings and lack of timely financial reporting suggest high risk and potential for further regulatory action.
