NCLT Allows Withdrawal of Insolvency Proceedings Against ATS Knightsbridge (ATS Heights Private Limited)
NCLT Approves Insolvency Withdrawal for ATS Knightsbridge
The National Company Law Tribunal (NCLT), New Delhi Bench, dismissed insolvency proceedings against ATS Heights Private Limited through its order dated March 13, 2026, under Section 12A of the Insolvency and Bankruptcy Code. Getamber Anand, Chairman of ATS Group, commented that the withdrawal of ATS Knightsbridge from CIRP marks an important new chapter for the project.
Settlement and Process Timeline
The insolvency application was initiated under Section 7 of the Insolvency and Bankruptcy Code by ASK Trusteeship Services Private Limited in 2023 and admitted by the NCLT on April 22, 2024, triggering commencement of the corporate insolvency resolution process (CIRP). The admission order was challenged before the National Company Law Appellate Tribunal (NCLAT), which in May 2024 stayed further insolvency proceedings while allowing construction activities to continue under supervision to safeguard homebuyer interests.
Following the settlement, an application was filed under Section 12A seeking withdrawal of the insolvency proceedings, which the NCLT allowed through its March 13, 2026 order.
Project Status and Delivery Timeline
The residential project is at an advanced stage of construction, with tentative handover expected in 18–24 months. ATS Knightsbridge is designed as a low-density residential development with one apartment per floor and uniform unit sizes across towers.
Located in Sector 124 at the Delhi–Noida border, the project offers connectivity to South Delhi, DND Flyway, Noida Expressway, and major business hubs, with metro stations and premium retail areas easily accessible.
Developer's Recent Financial Performance
In recent months, the ATS Group reported financial milestones including repayment of ₹1,250 crore to HDFC Capital's HCARE-2 fund and prepayment of ₹190 crore to SWAMIH Investment Fund I, along with sales traction of ₹825 crore from Sanctuary 105 on Dwarka Expressway and over ₹1,200 crore from the first phase of Province D Olympia on Yamuna Expressway.
Project Details and Design
The 6.15-acre development comprises five 47-storey skyscrapers housing uber-sized 4-bed residences, each sprawling across an entire floor. Residents enjoy a grand clubhouse, temperature-controlled swimming pool, gymnasium, spa and wellness zones, indoor games, library, mini theatre, multipurpose halls, landscaped gardens, and sports courts, with concierge services enhancing the luxury living experience.
RERA Registration and Regulatory Status
The project is registered with UP RERA under registration number UPRERAPRJ3574.
About ATS Infrastructure Limited
ATS Infrastructure Limited was founded in 1998 with a vision to provide world-class residential projects in India. The company operates across Gurgaon, Noida, Greater Noida, Yamuna Expressway, Indirapuram, Derabassi, Mohali and Dehradun. The company has more than 4,000 employees and has delivered 2.5 million square meters with 1.9 million square meters undergoing development.