Ansal Properties & Infrastructure Limited has informed the Stock Exchanges about the minutes of Twenty-One (21st) Meeting of Committee of Creditors of Serene Residency Group Housing Project of Ansal Properties and Infrastructure Limited Situated at Sector ETA II, Greater Noida, Uttar Pradesh, held on the 31st May 2025.
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Ansal Properties & Infrastructure Limited has shared the minutes of the 21st meeting of the Committee of Creditors (CoC) for its Serene Residency Group Housing Project in Greater Noida, held on 31st May 2025. The project has been under Corporate Insolvency Resolution Process (CIRP) since an NCLT order dated 20 October 2023, with CA Navneet Kumar Gupta acting as Resolution Professional. The meeting was attended by Indian Bank (financial creditor) and a homebuyers' representative, with over 15 homebuyers observing. Key updates include: the Resolution Plan approval application (I.A.(IBC) No. 50 of 2024) was listed before NCLT on 19 May 2025 and adjourned to 2 June 2025; Zapstar Construction's challenges to its exclusion from e-voting and rejection of its Rs 9.05 crore claim are pending with orders reserved; and a resident's challenge to new society rules is also pending. On the operational front, 45 units are fully completed, with plumbing, wiring, doors, and finishing progressing in 48-53 additional units, keys handed to 31 homebuyers for internal fittings, and an Occupancy Certificate application is pending with GNIDA.
The CIRP process for this project is in its final stages with the Resolution Plan awaiting NCLT approval, which is a key milestone for both the company and homebuyers awaiting possession. Shareholders should note that resolution delays and ongoing creditor disputes (especially Zapstar's) could affect the final recovery value, while completion progress and key handovers are positive signs for homebuyers.