The Company has informed the stock exchanges about the Hon'ble NCLAT order dated the 07th January, 2026.
ANSALAPI · price
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The National Company Law Appellate Tribunal (NCLAT) has upheld the NCLT order admitting the Section 7 insolvency application filed by IL&FS Financial Services against Ansal Properties, but with key modifications. The Corporate Insolvency Resolution Process (CIRP) is now confined to the company's Lucknow projects (Mother City, Mother City Extension, and Golf Plots) and its Rajasthan assets (built-up properties in Ajmer, Jodhpur, and Jaipur), rather than covering the entire company. The CIRP commencement date remains February 25, 2025. The company's Resolution Professional will continue to manage these specified projects. IL&FS had claimed a default of Rs.257.43 crore, while the company contended the actual default was only Rs.83 crore. The order allows Lucknow Development Authority and UP Awas Evam Vikas Parishad to participate in the CIRP process.
For shareholders, this is a mixed outcome — insolvency continues but is limited in scope, potentially preserving value in the company's other projects. Stock may remain volatile given ongoing insolvency, though the narrowed CIRP scope offers some relief from a complete company-wide resolution process.