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 Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..