SC upholds NCLAT order on Ansal Properties' CIRP; Promoters to cooperate
The Supreme Court of India, in its order dated April 16, 2026, disposed of appeals concerning Ansal Properties & Infrastructure Ltd's Corporate Insolvency Resolution Process (CIRP), affirming the NCLAT's prior decision. The Court chose not to intervene with the NCLAT's order but left certain legal questions open. The company's erstwhile promoters have pledged full cooperation in the ongoing CIRP proceedings, which are directed to advance swiftly. A writ petition filed by homebuyers was also dismissed, with homebuyers advised to pursue other suitable legal avenues. The CIRP is specifically focused on projects in Lucknow and Rajasthan, and the resolution plan for the Serene Residency project was previously approved by NCLT in October 2025.
Key Highlights
- Supreme Court upheld NCLAT order regarding the company's CIRP.
- Erstwhile promoters committed to full cooperation in CIRP proceedings.
- CIRP for Lucknow and Rajasthan projects to proceed expeditiously.
- Homebuyers' writ petition disposed; can pursue other legal remedies.
- Resolution plan for Serene Residency project was already approved by NCLT.