Ansal Properties & Infrastructure Ltd

Governance actions

• Forensic auditor appointed: AdvaRisk (SLO Technologies), effective 19 Aug 2026.
• Audit scope covers transactions from Apr 2016 to Mar 2026.
• Background: AdvaRisk is a division of SLO Technologies formed by finance professionals.

Sale-deed authorisations

• Cancellation of authorisations for signing sale deeds to Dhirendra Singh, Devendra Kumar Agrawal, Inder Goel.
• Authorisation granted to Shreesh Asthana and Sandeep Mishra to sign sale deeds for Sushant Taj City, Agra.
• Cessations reflect revised authority; no further material reasons stated.

Resolution Professionals appointments

• Navneet Kumar Gupta appointed RP for Lucknow and Rajasthan projects per 7 Jan 2026 order.
• Jalesh Kumar Grover appointed RP for Fernhill Project per 7 Jan 2026 order.

Background and regulatory context

• Background: AdvaRisk is a division of SLO Technologies formed by finance professionals.
• No disclosed relationships between new appointees and existing directors/promoters.
• Regulatory backdrop cited: CIRP confinement and Serene Residency resolution approvals.

Delay in results

• Delay in Q1 FY27 un-audited results beyond 14 Aug 2026 due to ongoing audited FY26 finalization.
• Audited FY26 results were to be declared by 30 May 2026.
• Trading window closed from 1 Apr 2026; remains closed 48 hours post results.
• Company will inform stock exchanges on the declaration of the audited/un-audited results.

Regulatory updates & projects

• NCLT order confines CIRP to Lucknow and Rajasthan projects.
• Resolution Professional Navneet Kumar Gupta manages the Lucknow and Rajasthan projects.
• Serene Residency Project managed by Navneet Kumar Gupta; NCLT approval dated 06 Oct 2025.
• Fernhill Project in Haryana managed by Jalesh Kumar Grover.

Filing Status

• APIL is undergoing CIRP under IBC; affairs managed by Interim Resolution Professional Navneet Kumar Gupta.
• Consolidated results not submitted; data from subsidiaries not yet received.

Audit & Reporting

• Header should read Independent Auditors' Report, not Independent Auditors' Review, per auditor clarification.
• CFO Prashant Kumar resigned on 4 April 2025; no replacement yet.
• Statement on impact of audit qualifications not signed by CFO or Audit Committee chair.

Governance / Board Changes

• Sunil Kumar Gupta, Binay Kumar Singh, and Francette Atkinson resigned; IRP did not accept.
• Resignations filed via DIR-11 but not accepted during CIRP.
• Prashant Kumar resigned as CFO; no replacement appointed to date.

Dividend & Trading Window

• Dividend for 2024-25 not recommended.
• Trading window closed from 01-Apr-2025 until 48 hours after results.

Dematerialisation/Rematerialisation status

• All dematerialisation/rematerialisation requests received during the period were processed and reflected in the register.
• Securities dematerialised have been listed on stock exchanges where the earlier issued securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification; depository name substituted as owner.
• NSDL dematerialised 900 shares; CDSL dematerialised 0; no rematerialisations.
• Register of members updated to reflect dematerialisation/rematerialisation.

Fernhill Project CIRP Update

• CIRP ongoing for Fernhill Project; RP overseeing preservation and going-concern operations.
• NCLT order dated 02.07.2026 disposes IA 3664/ND/2025 and 4742/ND/2025; Samyak to cooperate.
• Samyak Projects has not responded; RP to issue reminders and act if no reply within 15 days.
• 54th CoC meeting on 10 July 2026; quorum achieved; homebuyers and unsecured creditors participated.
• 53rd CoC minutes approved; 02.07.2026 order actions discussed.
• Order requires representations by decrees/orders from homebuyers (RERA) on retention or refund.
• IAs 968, 969, 990, 967, 1428 filed; homebuyers’ preferred options listed.
• CoC to vote on representations; addendum possible after evaluation.
• Expenses 11.05.2026–30.06.2026 ratified; CIRP costs Rs 40,603 approved.
• Estimated CIRP costs for 01.07.2026–31.07.2026 projected at Rs 7,25,005; RP/AR/fees included.

DIN deactivation and filing alignment

• DIN 08682540 for Smt. Kanta Devi deactivated; DIN 07185431 retained for filings.
• RD order disabled duplicate DIN and directs use of retained DIN.
• Company asked to reflect DIN 07185431 in earlier filings.

Insolvency/regulatory project updates

• NCLAT order confines CIRP to Lucknow and Rajasthan projects per settlement.
• Navneet Kumar Gupta continues as Resolution Professional for affected projects.
• Serene Residency Group Housing project resolution plan approved by NCLT on 06 Oct 2025.
• Fernhill Project in Gurgaon area mentioned as under management; details not provided.

Overall Compliance Status

• Partial non-compliance: delays in financial results submissions attracted SOP fines; otherwise compliance achieved.

Key Non-Compliances

• Delays in submission of financial results; fines imposed by stock exchanges for SOP non-compliance.

Remedial Actions

• Board reconstituted; mandatory board committees formed; policies adopted and updated.

Board and Committee Composition

• No director disqualification; board reconstituted and committees formed per SEBI LODR.

Website and Disclosure Practices

• Functional website; timely disclosures; links to documents accurate.

Subsidiary Compliance

• No material subsidiary; no consolidation issues.

Regulatory Actions

• SOP fines levied by stock exchanges for delayed results; some fines paid, others outstanding.

Special Situations

• Corporate Insolvency Resolution Process ongoing; confinement to certain projects; board reconstitution.