Regulator Labels Ansal API Subsidiary a ‘Front Company’
The National Consumer Disputes Redressal Commission (NCDRC) has declared Ansal Hi Tech Township Limited (AHTTL) a “front company” for Ansal API. The ruling came in response to complaints from 70 property buyers who faced significant delays in getting possession of their homes. The NCDRC found that AHTTL operated under the direction of Pranav Ansal, suggesting the structure was used to avoid financial obligations.
Ansal API Faces Severe Financial Challenges
The regulatory action comes as Ansal API is already undergoing Corporate Insolvency Resolution Process (CIRP). Financial reports paint a grim picture: the company posted a total loss of ₹1,629.16 crore for fiscal year 2024-25,…