Press Release dated May 14, 2026, titled "Embassy Developments secures favourable Karnataka High Court Order; KIADB Resumption Order set aside".
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Embassy Developments announced that the Karnataka High Court has set aside the Karnataka Industrial Areas Development Board (KIADB) order directing resumption of approximately 78 acres of land at Kadugodi Industrial Area in Bengaluru. The land is held by Embassy East Business Park Limited (EEBPL), a wholly owned subsidiary, which will continue to remain in lawful possession. This marks the second favorable legal outcome within two weeks, following the NCLAT order dated May 4, 2026 that quashed insolvency proceedings against the Company. The Kadugodi land is strategically important for the Company's development plans in the East Bengaluru corridor.
This is a positive development for shareholders as the Company retains ownership of a significant land asset critical to its development plans, removing uncertainty around land resumption.