Date: 19th June, 2026

Legal Proceedings Summary

Case Details:

  • Commercial Civil Suit CS (Comm) No. 3770/2026 filed in Saket District Court, Delhi
  • Filed against: (1) DMI Alternative Investment Fund-Special Opportunities Scheme, (2) DMI Alternatives Private Limited, (3) DMI Finance Private Limited, (4) Vistra ITCL (India) Limited (Trustee), and (5) Trait IT Park Private Limited
  • Purpose: Seeking decree of Rendition of Accounts and Permanent Injunction

Subject Matter:

  • Restraining defendants from creating third-party rights in securities provided by Ansal Properties & Infrastructure Ltd. or its Promoters
  • Specifically includes 5,55,64,816 equity shares of Ansal Properties & Infrastructure Ltd. pledged by Promoters/Promoter Group
  • These pledged shares represent approximately 35.30% of the company's equity

Court Order Dated 16th June, 2026:

  • Issued by District Judge (Commercial) South East District, Saket Courts, Delhi (Vacation Judge Dr. Tarun Sahrawat)
  • Parties directed to maintain status quo
  • Defendants restrained from creating any third-party rights in any securities provided by the plaintiff or its promoters
  • Next hearing date: 4th July, 2026
  • Notice to be served through all modes including WhatsApp and email

Background of the Dispute:

  • Defendant No. 2 (DMI Alternatives) advanced financial facilities totaling ₹297 crores to Amarnath Properties Pvt. Ltd. (Borrower)
  • Non-convertible debentures worth ₹208.36 Crores were issued by Borrower to Lender
  • Several properties were taken as securities including residential property at Firoz Shah Road and pledge of 5,55,64,816 equity shares
  • Borrowers defaulted in repayment of financial facilities
  • Defendant No. 4 declared Financial Facility 2 as NPA on 14th June, 2023
  • As of 18th June, 2024, total outstanding amount for Financial Facility 2 was ₹54,87,17,576
  • Defendant 4 took possession of Firoz Shah Road property on 13th June, 2024 under SARFAESI Act 2002

Additional Context from Enclosures:

1. Corporate Insolvency Resolution Process under IBC 2016 confined to Lucknow and Rajasthan projects as per NCLAT order dated 7th January, 2026

2. These projects managed by Shri Navneet Kumar Gupta, Resolution Professional

3. Serene Residency Group Housing Project at Greater Noida also managed by Shri Navneet Kumar Gupta - Resolution Plan approved by NCLT on 6th October, 2025

4. Fernhill Project at Gurgaon managed by Shri Jalesh Kumar Grover, Resolution Professional

Company Status:

  • Public limited company listed with Bombay Stock Exchange and National Stock Exchange
  • Shareholders approved resolutions for reconstitution of board of directors through postal ballot via remote e-voting process on 20th March, 2026
  • Currently managed by reconstituted board of directors