Housing Development Finance Corporation “HDFC” invokes the pledge on 66,83,990 equity shares of Ansal Housing Limited (Ansal) aggregating 11.25% of its paid-up share capital

Housing Development Finance Corporation “HDFC” in its normal course of business extends loans to various borrowers. For the purpose of recovery of part outstanding dues against loans availed by certain pledgers/borrowers, the Corporation on August 24, 2022 and August 25, 2022, invoked the pledge on 66,83,990 equity shares of Ansal Housing Limited (Ansal) aggregating 11.25% of its paid-up share capital, pledged with the Corporation by the said pledger/ borrower.

The main objective of Ansal is to acquire, purchase, sell, own, manage, improve, develop, let, take on lease, exchange, mortgage, assign, hire or otherwise acquire and/or dispose of any type of lands or properties or any tenure of interest herein and to erect and construct houses, multi-storeyed flats, building farm houses, shops or works of every description and to pull down, rebuild, enlarge, alter, and improve existing houses, buildings, shops and works thereon and to convert and appropriate any such lands into roads, streets, gardens and other convenience and generally to act as real estate developers, builders, colonisers, contractors and agents.

The turnover of Ansal Housing Limited (Ansal) for the year ended March 31, 2022 was Rs. 204.40 crore and the net worth as on that date was Rs. 146.23 crore.