Homebuyers Protest Adjournment at NCLT Hearing for Ansal Fernhill Project

A dramatic scene unfolded at the National Company Law Tribunal (NCLT) in New Delhi on Monday, as homebuyers of the stalled Ansal Fernhill housing project staged a protest. The protest came after the Bench adjourned the matter to November 17 on a counsel's request. The case, Bibuti Bushan Biswas v. Ansal Property Infrastructure Limited, has been pending for 13 years and involves the real estate project originally associated with Ansal Properties & Infrastructure Ltd (APIL).

Multiple homebuyers, many wearing identical T-shirts with folded hand symbols, were present at the Tribunal to press for progress in the case. The T-shirts symbolized their unity and determination to see the resolution of their long-standing issue.

The case was listed before a coram of Member (Judicial) Ashok Kumar Bhardwaj and Member (Technical) Reena Sinha Puri. The Fernhill project is currently under the corporate insolvency resolution process (CIRP) initiated against APIL. In connected proceedings, the NCLT on June 6 had held that land owned by Samyak Projects forms an integral part of the Fernhill development and must be treated as part of the ongoing CIRP.

The Tribunal had also observed that the Resolution Professional (RP) may seek expansion of the CIRP to Samyak if required and noted that Samyak would be entitled to a fair share of any additional price linked to the land. Despite the order, sources say Samyak allegedly cordoned off the land, prompting the RP to file an application before the Tribunal.

When the matter was taken up on Monday, an adjournment was sought. As the coram began dictating its order, homebuyers interrupted the proceedings, objecting to repeated delays. The members then rose without dictating a detailed order in open court, leaving the homebuyers frustrated and determined to continue their fight for justice.

The Ansal Fernhill project has been a source of significant distress for the homebuyers, many of whom have been waiting for over a decade to see their homes completed. The adjournment only adds to their frustration and highlights the need for a more expedient resolution process within the NCLT. The homebuyers are hopeful that their protest will draw attention to their cause and prompt the Tribunal to take more decisive action in their favor.