Ansal Properties and Infrastructure Limited (APIL) has issued an official disclosure to the stock exchanges regarding the Twenty-Fourth (24th) Meeting of the Committee of Creditors (CoC) for its Serene Residency Group Housing Project, located at Sector ETA-II, Greater Noida, Uttar Pradesh. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP), and the update has been shared in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Background of CIRP for Serene Residency Project

The Serene Residency project of APIL was admitted under CIRP by the Hon’ble National Company Law Tribunal (NCLT), New Delhi, Court IV on October 20, 2023, with the order being communicated to exchanges on October 21, 2023. The project is managed by Mr. Navneet Kumar Gupta, Resolution Professional, who has been overseeing the affairs, business, and assets of the project since his appointment.

CIRP is a legally structured mechanism under the Insolvency and Bankruptcy Code (IBC), 2016, designed to provide relief to creditors while seeking a viable resolution plan for financially stressed companies and projects. The Serene Residency project has been under such a process, with multiple CoC meetings held to deliberate on financial, operational, and legal aspects.

Details of the 24th CoC Meeting

The 24th CoC meeting was conducted on August 29, 2025, starting at 11:00 AM and concluding at 12:30 PM, via audio-video conferencing, ensuring participation from all creditors and authorized representatives.

The agenda items of the meeting included:

1. Chairing of the meeting by the Resolution Professional – The meeting began with Mr. Navneet Kumar Gupta assuming the role of Chair.

2. Roll call of participants – Attendance was recorded for all creditors and their representatives, including those connected virtually.

3. Quorum confirmation – The Resolution Professional confirmed quorum in compliance with Regulation 22 of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

4. Approval of previous minutes – The minutes of the 23rd CoC meeting held on July 31, 2025, were taken on record.

5. Updates on legal cases – The Resolution Professional provided updates on pending litigations related to the project. These were discussed and noted by the CoC members.

6. Operational status of the project – The operational condition of the Serene Residency project was reviewed under Regulation 31B of IBBI Regulations, 2016. Updates were discussed and formally recorded.

All agenda items were either noted or discussed, with the meeting ensuring transparency and structured communication among stakeholders.

Key Significance of the Meeting

The meeting reflects the ongoing regulatory and creditor oversight into the resolution process of the Serene Residency project. Regular CoC meetings play a crucial role in:

• Ensuring compliance with insolvency regulations.

• Maintaining transparency in legal, financial, and operational updates.

• Engaging creditors in the decision-making process.

• Tracking progress of the project under CIRP.

For homebuyers, creditors, and other stakeholders, such meetings are critical checkpoints to assess the ongoing viability of the resolution and the future course of the housing project.

Other Related CIRP Updates

In addition to the Serene Residency project, APIL is also managing CIRP proceedings for other projects, including the Fernhill Project in Gurgaon, Haryana, which is being overseen by Mr. Jalesh Kumar Grover, Resolution Professional. This indicates the broader financial challenges faced by the company and the legal interventions underway to resolve them.

Conclusion

The 24th CoC meeting for Serene Residency Group Housing Project of Ansal Properties underscores the importance of structured proceedings under the IBC framework. By disclosing the minutes of the meeting to the stock exchanges, the company has demonstrated its compliance with SEBI’s disclosure norms and commitment to transparent governance during insolvency resolution.

The update provides clarity to stakeholders about the status of legal cases, operational updates, and creditor participation, all of which are essential in determining the eventual resolution plan for the project. Going forward, creditors and homebuyers will closely monitor subsequent CoC meetings and NCLT proceedings to assess the resolution outcomes for the Serene Residency project.

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