NCLT approves resolution plan for Ansal API’s Fernhill project in Gurugram

What happened

Ansal Properties & Infrastructure (Ansal API) told the stock exchanges on 5 September 2026 that the New Delhi bench of the National Company Law Tribunal had, by an order dated 24 July 2026, approved the resolution plan for its Fernhill project in Gurugram. The Fernhill insolvency has been run as a separate, project-specific process with its own resolution professional and committee of creditors, in which homebuyers are financial creditors.

Other Ansal proceedings

• Separately, an NCLAT order confined a wider insolvency process against Ansal API to its Lucknow and Rajasthan projects, linked to an earlier settlement with IL&FS Financial Services.
• Ansal API’s quarterly default disclosures show continuing defaults on bank and financial institution loans.

The filings we reviewed did not set out the plan’s terms for homebuyers, such as possession timelines or refunds.

What it means for Fernhill buyers

An approved resolution plan is binding on all creditors, including buyers who voted against it. Typically it sets a construction timeline, a funding source and how much each buyer still has to pay. Buyers should now get a copy of the approved plan from the resolution professional or the monitoring committee, and track the milestones it commits to.

What it means for other Ansal buyers

Ansal API and related Ansal companies have many older projects across Gurugram, Faridabad, Ghaziabad and other cities; our site lists several, including Ansal API Esencia, Ansal Highland Park and Ansal Height 86. Project-specific insolvency means each project’s outcome can differ. Buyers should find out whether their project is under any insolvency process, settled, or still with the developer.

What to check

• Whether your claim was admitted in the Fernhill process and the amount recorded.
• The plan’s possession schedule and the identity of the resolution applicant responsible for completion.
• Registry and OC status for any completed towers.
• For other Ansal projects, the HRERA registration status and any NCLT case numbers.

Why project-wise insolvency matters

Courts have increasingly allowed insolvency to be run project by project in real estate, so that one failing project does not freeze a developer’s healthier ones. That was the approach in the Fernhill case. It can speed things up for buyers in the affected project, but it also means each project’s buyers must organise themselves, follow their own committee of creditors and engage with their own resolution professional. Buyers who are not active in the process risk missing claim deadlines and votes.