Ansal Properties & Infrastructure Limited has informed the Stock Exchanges that the Hon'ble National Company Law Tribunal, New Delhi Bench, Court-V vide its Order dated the 16th May, 2025 in CP No. I.B./659 (ND)/2024 has initiated Corporate Insolvency Resolution Process against M/s Star Facilities Management Ltd (Corporate Debtor), a wholly owned subsidiary of Ansal Properties and Infrastructure Limited.
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The NCLT New Delhi Bench, Court-V has admitted an insolvency petition and initiated the Corporate Insolvency Resolution Process (CIRP) against Star Facilities Management Ltd, a wholly owned subsidiary of Ansal Properties & Infrastructure Limited, via order dated 16 May 2025. The petition was filed by Craftea Cafe India Private Limited under Section 7 of the Insolvency and Bankruptcy Code over a default of Rs. 2.06 crore arising from a Rs. 1.20 crore inter-corporate deposit taken in September 2021 that was never repaid despite multiple extensions. M/s Aarsh Resolution Professionals, through Mr. Atul Mittal, has been appointed as the Interim Resolution Professional and a moratorium under Section 14 of the IBC has been declared. Importantly, this is the second insolvency event for the group, as the parent company APIL itself has been under CIRP since 25 February 2025.
This compounds the financial distress already facing the Ansal Properties group, whose parent is itself under insolvency resolution. Shareholders face heightened uncertainty around asset values and recovery, as the group-wide insolvency process now extends to a subsidiary entity.