The Company has informed the stock exchanges that the 52nd meeting of committee of Creditors of Fernhill Project of the Company, situated at District Gurugram is scheduled to be held on ....
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Ansal Properties & Infrastructure Ltd has informed exchanges that the 52nd meeting of the Committee of Creditors (CoC) for the Fernhill project in Gurgaon is scheduled for May 20, 2026. The company has been under Corporate Insolvency Resolution Process (CIRP) since November 2022 when admitted by NCLT. In January 2023, NCLAT confined the CIRP specifically to this Fernhill project. This will be the 52nd CoC meeting, indicating the resolution process for this project remains ongoing and has not yet reached a conclusion. Separately, the company's Lucknow, Rajasthan, and Greater Noida projects are under different resolution professionals with varying stages of progress.
The 52nd CoC meeting suggests the Fernhill project resolution is taking extended time with no final resolution plan approved yet. This ongoing insolvency process continues to weigh on the company's operations and shareholder value for this specific project.