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Informist, Monday, Nov. 10, 2025

 

NEW DELHI – The Delhi bench of the National Company Law Tribunal has approved One City Infrastructure Pvt. Ltd.'s resolution plan for debt-ridden Ansal Urban Condominiums Pvt. Ltd. The resolution plan value was INR 4.25 billion plus INR 1.05 billion, which was the monetary value of flats in the debt-ridden company's projects.

 

The tribunal said that existing shareholding of Ansal Urban Condominiums shall stand extinguished from the plan effective date. Ansal Urban Condominiums shall issue 100,000 fully paid-up equity shares of INR 10 each, all of which shall be held by One City Infrastructure and its nominees, giving them 100% ownership, the tribunal added.

 

In 2022, the tribunal had admitted Vistra ITCL (India) Ltd.'s plea to start insolvency proceedings against Ansal Urban Condominiums. In 2023, the committee of creditors of Ansal Urban Condominiums approved One City Infrastructure Pvt. Ltd.'s resolution plan with 100?vourable votes. The debt-ridden company's creditors include Palm Products Pvt. Ltd., Samkit Finance Pvt. Ltd. and homebuyers. The fair value of Ansal Urban Condominiums was INR 1.33 billion and its liquidation value was INR 882.31 million.  End

 

Reported by Surya Tripathi

Edited by Akul Nishant Akhoury

 

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