Lucknow, July 7 -- The National Company Law Appellate Tribunal (NCLAT), New Delhi, on Monday is likely to decide on a plea of the Ansal API home buyers' association to quash the National Company Law Tribunal's (NCLT) order of February 2025 declaring Ansal API insolvent. The homebuyers have also sought completion of the project. "The case will come up for hearing on Monday in NCLAT. We are fighting in NCLAT to quash the NCLT order, which declared the Ansal API insolvent," said Gagan Tandon, who is representing homebuyers before NCLAT. "We have also requested the court to direct LDA to complete the project and handover the township to homebuyers," Tandon added. Ansal API had filed a 48-page petition in the NCLT, declaring itself bankrupt on February 25. NCLT declared Ansal API insolvent and appointed an Interim Resolution Professional . Investors, who had been waiting for their plots for 12 to 15 years, were taken aback when the NCLT declared Ansal API bankrupt. Since then, protests have erupted, with affected homebuyers opposing the decision. LDA and a group of 33 investors of Ansal Properties Infrastructure Limited had filed an appeal in NCLAT against the NCLT decision to declare Ansal Properties Infrastructure Limited bankrupt. Ansal API high-tech township was approved on May 21, 2005, on 1765 acres on Sultanpur Road. The detailed project report (DPR) was approved on May 22, 2006. Thereafter, the project was expanded to 3530 acres on June 3, 2009. The new DPR was approved on May 18, 2010. The final project spanning 6465 acres was approved on December 13, 2013 and its DPR was approved by the LDA on May 23, 2015. Under the new township policy of the state government, the project was reduced to 4689.79 acres on December 16, 2021 and its DPR was approved on September 27, 2022. The DPR was handed over to the developer on April 13, 2023 on condition that it will carry out development work in the township. The developer failed to carry out development work. In the township, 411 acres was also mortgaged with LDA. According to an FIR lodged by the LDA, the developer sold the land mortgaged with LDA illegally and did not carry out any development work....