LDA claims ₹4,500 crore from Ansal in NCLT

The Lucknow Development Authority (LDA) has filed a claim for ₹4,500 crore against Ansal Properties & Infrastructure Limited. This claim is being made in the National Company Law Tribunal (NCLT) for compensation related to land acquisition and pending dues. LDA plans to appeal against Ansal’s bankruptcy declaration. The claim was filed on March 11, 2025, according to Gyanendra Verma, additional secretary at LDA. The authority is also considering canceling the license for an Ansal township project and might take over the incomplete project for further development. LDA's claim includes about ₹370 crore for land acquisition in Sushant Golf City and ₹70 crore for pending map approval dues. Additionally, there are claims regarding 411 acres of mortgaged land, valued at current market rates. Overall, LDA has ₹432 crore in pending dues from Ansal API, which includes unpaid development charges. Verma mentioned that the ₹4,500 crore is primarily based on the value of the mortgaged land, calculated using the latest approved land rates. A team from LDA took a week to prepare the claim in Delhi, submitting essential documents to support their case. With thousands of investors affected, LDA is gearing up to challenge the NCLT's decision in the National Company Law Appellate Tribunal (NCLAT). Verma indicated that an appeal against the bankruptcy declaration will be filed within 10 days. Around 2,800 investors are also preparing to appeal against the NCLT's ruling.