ATS Knightsbridge Project Receives Approval to Proceed with Construction After Insolvency Concerns Resolved

ATS Group Withdraws Insolvency Proceedings for Premium Residential Project ATS Knightsbridge

ATS Group, a Delhi NCR-based developer, has withdrawn its premium residential project ATS Knightsbridge from the corporate insolvency resolution process (CIRP) following a settlement under Section 12A of the Insolvency and Bankruptcy Code (IBC).

The insolvency proceedings, initiated by ASK Trusteeship Services Private Limited against ATS Heights Private Limited under Section 7 of the IBC, were dismissed as withdrawn by the National Company Law Tribunal (NCLT), New Delhi Bench. The order was passed on March 13, 2026, pursuant to an application filed by the parties.

The withdrawal effectively brings an end to the insolvency proceedings concerning the project, clearing the way for the developer to resume construction and execution plans. ATS Knightsbridge is located in sector 124 in Noida and is at an advanced stage of construction, with structures of all five towers either completed or nearing completion.

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The developer has indicated a tentative handover timeline of 18 to 24 months, subject to regulatory approvals and environmental factors, including restrictions under the Graded Response Action Plan (GRAP). The project features one apartment per floor with uniform unit configurations across towers.

The resolution comes amid a series of financial and operational updates from the group. ATS Group recently reported repayment of Rs 1,250 crore to HDFC Capital's HCARE-2 fund through internal accruals, along with prepayment of Rs 190 crore to SWAMIH Investment Fund I. The company has also reported sales traction from other projects, including Rs 825 crore from Sanctuary 105 on Dwarka Expressway and over Rs 1,200 crore from the first phase of Province D Olympia on Yamuna Expressway.