LDA files ₹4,500-cr claim against Ansal API in NCLT

The Lucknow Development Authority (LDA) has filed a claim of approximately ₹4,500 crore against Ansal Properties & Infrastructure Limited in the National Company Law Tribunal (NCLT), seeking compensation for land acquisition, pending dues and the value of the mortgaged land as per the latest circle rate. The development authority is also preparing to challenge NCLT’s decision to declare Ansal bankrupt in the National Company Law Appellate Tribunal (NCLAT). LDA additional secretary Gyanendra Verma confirmed that the claim in NCLT was filed on March 11, 2025.

On March 10, HT reported that LDA had recommended cancelling the licence of the Ansal API township and taking over the incomplete project for further development. Sent to the state government, the proposal followed LDA vice-chairperson Prathamesh Kumar’s earlier statement that the authority is prepared to step in if needed.

The LDA has also approached the National Company Law Tribunal to recover its pending dues from Ansal API, besides portions of mortgaged land.

An LDA official said that the development authority’s legal advisor filed the claim through Interim Resolution Professional (IRP) Navneet Gupta in Delhi. The claim includes estimates of around ₹370 crore for land acquisition in the Sushant Golf City area, ₹70 crore in pending dues for map approval, along with the value of 411 acres of mortgaged land at the current circle rate in favor of the LDA. LDA’s dues of around ₹432 crore are pending on Ansal API, which includes unpaid development charges and other liabilities, the official said.

An LDA official explained that the ₹4,500 crore figure is based primarily on the value of the mortgaged land, calculated using the latest LDA circle rate, along with the ongoing circle rate of all properties sold by the developer.

The official added that a team led by additional secretary Gyanendra Verma spent a week in Delhi completing the claim process. The team submitted documents, including land registry records, official correspondence on dues, and directives restricting the sale of mortgaged land. With thousands of investors and LDA’s financial interests at stake, the authority is preparing to challenge the NCLT’s decision before NCLAT.“We are working on filing an appeal against Ansal API’s bankruptcy declaration. It will be submitted within 10 days,” said additional secretary Verma.

LDA officials said around 2,800 investors are also planning to appeal in NCLAT against the NCLT’s decision. The official added that documents were being prepared, including records of financial transactions, allotment and possession letters and other relevant papers.