Real estate developer ATS Group’s premium Noida project, ATS Knightsbridge, has been withdrawn from the corporate insolvency resolution process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code.

The insolvency proceedings in the matter (IB-570/ND/2023), initiated under Section 7 of the Insolvency and Bankruptcy Code by ASK Trusteeship Services Private Limited against ATS Heights Private Limited, were dismissed as withdrawn by the National Company Law Tribunal (NCLT), New Delhi Bench, through its order dated March 13, 2026, pursuant to an application filed in this regard.

Commenting on the development, Getamber Anand, Chairman, ATS Group, said, “The withdrawal of ATS Knightsbridge from CIRP pursuant to the Section 12A settlement marks an important new chapter for the project and for ATS Group. Our focus now is on elevating the product experience, and positioning Knightsbridge as a truly exceptional luxury residence in NCR.”

The development marks the closure of insolvency proceedings for the project and enables the company to proceed with construction and delivery plans.

ATS Group said the project is at an advanced stage of construction, with structures of all five towers either completed or nearing completion. The company has indicated a tentative handover timeline of 18–24 months, subject to regulatory and environmental conditions, including GRAP-related restrictions.

ATS Knightsbridge is designed as a low-density residential development with one apartment per floor and uniform unit sizes across towers.

In the recent past, the group has reported financial and operational milestones, including repayment of ₹1,250 crore to HDFC Capital’s HCARE-2 fund through internal accruals, and prepayment of ₹190 crore to SWAMIH Investment Fund I. The company has also reported sales traction across select projects, including ₹825 crore from Sanctuary 105 on Dwarka Expressway and over ₹1,200 crore from the first phase of Province D Olympia on Yamuna Expressway.

With the insolvency process now resolved, ATS Knightsbridge is expected to move forward with a focus on execution and delivery in the NCR residential market.