HDFC, Indiabulls Asset Reconstruction Acquire Certain Ansal Housing Properties

New Delhi: lndiabulls Asset Reconstruction Company and HDFC have acquired certain mortgaged properties of Ansal Housing, although as a symbolic measure.

"The company has received notice under SARFAESI Act where by lndiabulls ARC has taken over the symbolic possession on August 5, 2019 of certain mortgaged properties. It also received notice that HDFC has taken over the symbolic possession on August 8, 2019 of certain mortgaged properties," Ansal Housing said in a regulatory filing.

Ansal Housing is currently holding discussions with the two companies to resolve the issue in the best possible manner, it said.

HDFC had issued a demand notice for the entire outstanding loans/dues of Rs 150.19 crore. The notice was issued under SARFAESI Act. HDFC has also invoked 36 lakh shares of Ansal Housing out of total pledged 279.03 lakh shares. Of the 36 lakh shares invoked by HDFC, 20.72 lakh shares have been sold and adjusted against the outstanding principal amount as on June 30, 2019. The total outstanding liability has gone down to Rs 148.31 crore as on June 2019.

Indiabulls ARC too issued a notice to Ansal Housing in April 2019 in which repayment of Rs 175.08 crore was demanded within a period of 60 days. The notice was issued under SARFAESI Act. IndiaBulls Commercial Credit recalled the whole of outstanding principal amount of Rs 149.85 crore along with interest, penal interest and other associated charges in March 2019. The outstanding liability at the end of June 2019 has come down to Rs 158.63 crore