# In the matter of Ansal Properties and Infrastructure Limited

> Read the full IBC case summary for In the matter of Ansal Properties and Infrastructure Limited. NCLT judgment dated 2025-02-25. Citation: TCN-2025-NCLT-01123.

- **Court:** NCLT
- **Order date:** 25 Feb 2025
- **Citation:** TCN-2025-NCLT-01123
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ansal-properties-and-infrastructure-limited-e368f765

## Summary

### Background

The financial creditor filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to its failure to pay outstanding dues amounting to Rs. 257,43,12,692. The corporate debtor disputed the quantum of debt but admitted the existence of a substantial debt.

## Facts

M/s IL&FS Financial Services Limited, the financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Ansal Properties and Infrastructure Limited, the corporate debtor. The corporate debtor was incorporated on June 3, 1967, under the Companies Act, 1956. The financial creditor claimed that the corporate debtor failed to pay outstanding dues of Rs. 257,43,12,692, which constitutes a financial debt as defined under Section 5(8) of IBC.

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## Issues and analysis

### Issue 1: Whether the corporate debtor has…

**Ratio:** The existence of a debt and a default exceeding the statutory threshold is sufficient for…

**Reasoning:** The corporate debtor acknowledged the existence of the debt but disputed the quantum,…

**Interpretation:** The Tribunal interpreted **Section 7** of the IBC, in line with precedents like…

**Application:** The corporate debtor's acknowledgment of debt and its failure to pay, despite…

## Parties

- **Judges:** MANNI SANKARIAH…; Sanjeev R…
- **Advocates:** Ruch…; Parvesh V…; +4 more

## Timeline

- **June 3, 1967 — Incorporation of…**: M/s Ansal Properties and Infrastructure Limited was incorporated under the Companies Act,…
- **February 16, 2016 — Grant of Fac…**: Applicant granted a term loan facility of Rs. 50,00,00,000/- (Facility I) to the…

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