Company Response to NSE Query on Financial Results

Date and Nature of Exchange Communication

Ansal Properties and Infrastructure Limited received an email from the National Stock Exchange of India Limited (NSE) dated November 28, 2025, with the subject "Clarification for Financial results - ANSALAPI". The exchange raised specific observations regarding the company's audited financial results for the quarter and year ended March 31, 2025.

Company's Clarification on Financial Results and Trading Volume

While the document does not specifically address trading volume discrepancies, it provides detailed clarifications on three main observations raised by NSE:

1. Consolidated Financial Results Not Submitted: The company explained that it could not disseminate consolidated financial results because subsidiaries and other companies to be consolidated under IND AS-110 are separate legal entities. The company has not received financial statements or relevant data from these entities due to the Corporate Insolvency Resolution Process (CIRP) that was initiated against the company by the Hon'ble National Company Law Tribunal (NCLT), New Delhi Bench, Court-IV in CP No.: IB 558(ND)/2024 vide order dated February 25, 2025. With the initiation of CIRP, the powers of the Board of Directors stand suspended, and affairs are managed by Resolution Professional Shri Navneet Kumar Gupta.

2. Auditor Report Format Issue: The statutory auditor, M/s MRKS & Associates, acknowledged that the words "Independent Auditors' Review Report" instead of "Independent Auditors' Report" were mentioned inadvertently on the header of the auditor's report. They submitted a correction letter dated December 1, 2025, requesting the exchange to update their records accordingly.

3. Unsigned Statement of Impact of Audit Qualifications: The company explained that the Statement of Impact of Audit Qualifications was not signed by the CFO and Audit Committee Chairman due to multiple resignations:

  • Shri Sunil Kumar Gupta (DIN: 06531451), Non-Executive and Independent Director and Chairman of the Audit Committee, resigned effective February 21, 2025
  • Shri Binay Kumar Singh (DIN: 10467660), Non-Executive and Independent Director and Audit Committee member, resigned effective March 12, 2025
  • Ms. Francette Patricia Atkinson (DIN: 10388863), Non-Executive Independent Woman Director and Audit Committee member, resigned effective June 23, 2025
  • Shri Prashant Kumar resigned as Chief Financial Officer and President (Accounts and Finance) effective April 4, 2025

Regulatory Compliance References

The company referenced compliance with Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The company also noted that pursuant to Regulation 15(2B) of SEBI Listing Regulations, the provisions specified in Regulations 18 (Audit Committee) shall not be applicable during the insolvency resolution process period, and the roles and responsibilities of committees shall be fulfilled by the resolution professional.

Details of Financial Results Clarification

The company submitted standalone financial results only (not consolidated) for the quarter/year ended March 31, 2025, which were approved by Shri Pranav Ansal (Suspended Chairman and Whole Time Director) and taken on record by Shri Navneet Kumar Gupta, Resolution Professional. The results were disseminated on November 7, 2025, with prior intimation submitted on November 3, 2025. No dividend was recommended for FY 2024-25.