Ansal Properties invites EoI for Fernhill project; 29 March last date for submission of EoI
The Insolvency Resolution Professional (IRP) — Ashwani Kumar Singla – has invited Expression of Interest (EoI) for Fernhill Project, Gurgaon, of Ansal Properties and Infrastructure Limited.
As per the schedule, the last date for submission of EoIs is 29 March 2023, while issuance of the list of eligible provisional resolution applicants (PRA) is 08 April 2023. Submission of objections to Provisional list can be made by 13th April 2023, while issuance of IM, EM and RFRP (each as defined below) to the eligible PRAs 18 April 2023. The final list of PRA will be issued on 23 April 2023.
As per the documents inviting EoIs, as on 20 February 2023, the IRP has received a total of 489 claims amounting to Rs 351 crore from homebuyers of the Fernhill Project.
Construction Status of Residential Group Housing FERNHILL at Sector – 91, Gurgaon (Haryana)
| Description | Total Nos of flats | Construction completion (%) |
| Tower A | 53 | 68 |
| Tower B | 53 | 66 |
| Tower C | 53 | 73 |
| Tower D | 53 | 87 |
| Tower E | 65 | 46 |
| Tower F | 65 | 47 |
| Tower G | 53 | 20 |
| Tower H | 53 | 21 |
| Tower J | 53 | 141 |
| Tower K | 53 | 13 |
| Tower L | 52 | 66 |
| Tower M | 52 | 67 |
| Tower N | 33 | 96 |
| Tower P | 21 | 95 |
| Total flats (in towers 1-14) | 712 | |
| Convenient Shopping | 9 | 95 |
| Villas – 28 | 28 | 0 |
| EWS | 131 | 35 |
| Community Building | 1 | 0 |
The insolvency petition against the Ansal Properties and Infrastructure was filed by 126 homebuyers, whom the real estate company has not delivered the flats they booked in one of its Gurgaon projects called The Fernhill.
The homebuyers had booked their flats in 2011, and the builder had promised to handover the flats by July 2017. But according to the homebuyers who submitted the insolvency plea, Ansal Properties had not been able to complete the project even by March 2021.
The 126 applicants had together paid Rs 53.5 crore to the builder for booking flats in the said project.
The homebuyers have also alleged the builder of diverting the money collected for the projects to another project – Samyak Projects and Infrastructure Ltd.
The New Delhi bench of the NCLT admitted the plea against Ansal Properties and Infrastructure on 16 November 2022 and appointed Ashwani Kumar Singla as the interim resolution professional.
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