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Ansal API
Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday launched a scathing attack on the Samajwadi Party, accusing it of favouring builders like Ansal API during its tenure. Speaking during a discussion on Budget in the state assembly, Adityanath also reassured homebuyers, saying no one should think they can escape after taking money from the common man and the poor. "Our government will track down such individuals even from the depths of hell," the chief minister said. While memorandums of understanding (MoUs) were signed in the past, their real value lies in implementation, which did not happen under previous governments, Adityanath claimed. Stating that every such case is being closely monitored, Adityanath said, "We saw an example of this today, and I have ordered an FIR against it. Ansal was your (SP's) creation. It was under your government that all its illegal activities were facilitated, deceiving investors and homebuyers." "This was done during the Samajwadi Party's rule
The National Company Law Tribunal has directed to initiate insolvency proceedings against realty firm Ansal Properties & Infrastructures on a petition filed by 126 flat buyers of one of the company's housing projects. A two-member bench of the insolvency tribunal had admitted the plea moved by 126 flat/villa buyers of Ansal API's real estate project "The Fernhill" located at Sector 91, Gurgaon. In their petition, the buyers had alleged defaults on the part of Ansal API in delivering the project within the promised time frame as well as the grace period provided under the clauses of the builders-buyers agreement. "The applicants have succeeded in proving their debt and default on the part of the Respondent in the instant case. Hence, in the given facts and circumstances, the present Application being complete and the default being committed above the threshold limit, the present Application is admitted," it said. As a necessary consequence of the moratorium, it also imposed ...