Supreme Court Disposes of IL&FS Civil Appeals; CIRP Proceedings Must Proceed Expeditiously
Ansal Properties & Infrastructure Ltd received confirmation of the Supreme Court of India's order dated April 16, 2026, concerning the disposal of Civil Appeal No(s).807-808/2026 and multiple connected legal matters. The ruling addresses the financial services firm IL AND FS Financial Services Limited versus Pranav Ansal and others.The Supreme Court, in its order, disposed of Civil Appeal Nos.807-808/2026 along with all related connected appeals.
During the hearing, the Court noted that while it was not inclined to interfere with the order passed by the NCLAT, it kept open the questions of law raised by Mr. Gopal Jain and Mr. Sudhanshu Choudhary, senior counsel. Furthermore, Mr. Pahwa, senior counsel representing the erstwhile promoters, made a submission undertaking that his clients would extend full cooperation in the Corporate Insolvency Resolution Process (CIRP) proceedings for the relevant projects.
The Court directed that the CIRP proceedings must proceed further expeditiously, adhering to the provisions of the Insolvency and Bankruptcy Code.
A connected Writ Petition (C) No.453/2026, filed under Article 32 of the Constitution by the Genuine Homebuyers Association for Relief (GHAR), also stood disposed of in light of the appeal order. The order, however, left it open for homebuyers to file an appropriate legal remedy before the appropriate forum.
Operational Updates on Core Projects
In operational updates regarding the company's projects, the following details were noted:| Project | Location/Area | Status/Details | Resolution Professional |
|---|---|---|---|
| CIRP Proceedings | Lucknow and Rajasthan projects | Confined under a settlement agreement dated March 3, 2022. | Shri Navneet Kumar Gupta |
| Serene Residency Group Housing Project | Sector ETA 1, Greater Noida, U.P | Resolution Plan was approved by the NCLT, New Delhi, Bench II, on October 6, 2025. | Shri Navneet Kumar Gupta |
| Femhill Project | District Gurgaon, Haryana | Project management under a specific resolution process. | Shri Jalesh Kumar Grover |
Stock Price Movement
Ansal Properties & Infrastructure Ltd finished Friday at ₹3.48, having edged higher 1.75% for the day. Over the course of trading, shares remained confined within a tight range, moving between a low of ₹3.44 and a high of ₹3.48.Source:
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