Delhi HC orders Ansal Properties to maintain status quo

22 Oct 2024 CW Team

The Delhi High Court issued a directive requiring Ansal Properties and Infrastructure Ltd. on Monday to maintain the status quo on all its unencumbered assets. The order was issued in response to a petition filed by Debenture Trustee Vistra ITCL, acting on behalf of the debenture holders. The petition sought to enforce an order from an Arbitral Tribunal, which required Ansal Properties and Infrastructure Ltd. to furnish security amounting to Rs 5.03 billion. The bench of Justice Jasmeet Singh stated that the judgment-debtor, Ansal Properties, and Infrastructure Ltd., must maintain the status quo concerning all unencumbered assets as of today. The court has scheduled the next hearing for January 20, 2025, to further review the case and any developments that may arise. According to the directive, Ansal Properties and Infrastructure Ltd. is prohibited from dealing with its unencumbered assets in any manner starting today. The court's directive aims to ensure compliance with the tribunal's ruling and to safeguard the interests of the debenture holders during the ongoing legal proceedings. Sidhant Kumar, Advocate, represented Vistra ITCL, while AshwKumar Mata, Senior Advocate, appeared on behalf of Ansal Properties and Infrastructure Ltd. during the proceedings. Vistra ITCL had initiated proceedings to recover its dues under a Corporate Guarantee executed by Ansal Properties in its favor. Last year, the Delhi High Court appointed former Supreme Court Judge Justice M.R. Shah as the sole arbitrator in a case involving disputes between Vistra ITCL India Limited and Ansal Properties & Infrastructure Limited (APIL). The dispute centers on a project undertaken by APIL for the development of a group housing project spanning 41.16 acres in Ghaziabad, Uttar Pradesh. This project was executed by Ansal Urban Condominiums Private Limited (AUCPL), the principal borrower in this matter.

Infrastructure Transport

08 Oct 2025

GMLR’s First Flyover To Open By May 2026, Says BMC

The Brihanmumbai Municipal Corporation (BMC) has announced that the first flyover of the Goregaon–Mulund Link Road (GMLR) project will be ready for use by May 2026.The GMLR, one of Mumbai’s most ambitious infrastructure ventures, involves a 12.2-kilometre corridor comprising tunnels, flyovers, and interchanges, built at an estimated cost of Rs 140 billion. The project aims to provide a seamless connection between Mumbai’s western and eastern suburbs, drastically reducing travel time and congestion.The first phase features a 1.2-kilometre flyover, beginning near Dindoshi Court and extendi..

Assam Awaits Nod For Rs 60 Billion Brahmaputra Tunnel

Assam’s ambitious Rs 60 billion underwater tunnel project, India’s first to be built beneath a major river, is awaiting Union Cabinet approval, according to a report by The Times of India. The proposed tunnel will connect Numaligarh and Gohpur under the Brahmaputra River, significantly improving road connectivity and strengthening strategic infrastructure near Arunachal Pradesh, which borders China.Estimated to take five years to complete, the project marks a major milestone in India’s transport and defence infrastructure planning. “The Detailed Project Report (DPR) is ready and will s..

Kochi Set To Commission South India’s First Hydrogen Station

Kerala is gearing up to embrace the fuel of the future — green hydrogen, with South India’s first green hydrogen plant and refuelling station nearing commissioning on the Cochin International Airport (CIAL) premises. The project marks a major milestone in India’s clean energy transition and could soon power the Kochi Water Metro and selected e-feeder services of the Kochi Metro.The project is being implemented by Bharat Petroleum Corporation Limited (BPCL) in collaboration with CIAL, featuring a 1,000-kilowatt facility at Nedumbassery. BPCL has also finalised plans for a second hydrogen ..