The National Company Law Tribunal (NCLT) has declared Ansal API bankrupt, putting thousands of homebuyers and investors in a crisis. The tribunal has also appointed an Interim Resolution Professional (IRP) to handle the company’s projects, raising concerns about whether investors will ever get their money back.
What Went Wrong?
Ansal API had undertaken major real estate projects in Lucknow, Noida, and other cities, offering flats, plots, villas, and commercial spaces. However, despite selling properties since 2009, many investors have yet to receive possession. Some investors have waited for more than a decade, and now, with the company’s bankruptcy, their investments are at risk.
How Investors Got Trapped
- Investors
