The NCLT has approved the resolution plan for Ansal Properties and Infrastructure’s Fernhill project. Krish Infrastructure Private Limited will serve as the successful resolution applicant, committing Rs 20 crore to finalize construction. The plan offers homebuyers options for unit retention, refunds, or switching, with a 34-month completion timeline for the Gurgaon-based project.
Ansal Properties NCLT Approval for Fernhill Project
NCLT approval for Fernhill Project resolution plan; Krish Infrastructure to infuse Rs 20 crore.
Reader Takeaway: Resolution plan provides a path for project completion, easing specific project-level liabilities while offering options to homebuyers.
What just happened
The National Company Law Tribunal (NCLT) officially approved the resolution plan for the Fernhill Project, a development under Ansal Properties and Infrastructure Limited. Krish Infrastructure Private Limited has been appointed as the Successful Resolution Applicant (SRA) to lead the revival. The effective date of the order is July 30, 2026.
Why this matters
This approval provides a defined roadmap for the completion of stalled construction at the Gurgaon-based residential project. The SRA is mandated to infuse Rs 20 crore specifically for construction activities. By transitioning management control to the SRA through a demerger into a new corporate entity, the plan seeks to resolve pending liabilities associated specifically with the Fernhill site.
What changes now
Homebuyers gain immediate clarity on their options: they may retain their existing units, opt for a refund of principal plus interest, or surrender/switch their allotments. Participants wishing to continue are required to pay a commitment fee of Rs 50 per sq. ft. within 60 days, alongside an enhancement amount calculated at 7.5% simple interest per annum for six years. A Monitoring Committee, including the Resolution Professional and creditor representatives, will supervise the transition.
Risks to watch
The project carries a 34-month construction timeline with a six-month grace period. Success remains tied to the SRA’s ability to execute construction within the budget and the participation level of existing homebuyers who must meet the new financial commitments to move the project forward.
What to track next
Investors should monitor the efficiency of the Monitoring Committee and subsequent updates regarding fund infusion milestones and construction progress updates.