The Hon ble NCLAT has, today i.e. May 4, 2026, pronounced its order in favour of the Company, allowing its appeal, and accordingly:(i) The Hon ble NCLAT has set aside the impugned order dated December 9, 2025, passed by the Hon ble National Company Law Tribunal, New Delhi Bench ( NCLT ), which had admitted the Corporate Insolvency Resolution Process ( CIRP ) against the Company under the Insolvency and Bankruptcy Code, 2016 ( IBC );(ii) The interim protection granted earlier by the Hon ble NCLAT stands subsumed into the final order;(iii) The CIRP initiated against the Company stands quashed and closed; and(iv) All directions arising pursuant to the said NCLT order stand terminated and disposed of.In view of the above, the Company is no longer subject to CIRP and stands relieved from the insolvency proceedings.For more details, please refer attachment.
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The National Company Law Appellate Tribunal (NCLAT) has ruled in favour of Embassy Developments Limited, setting aside an earlier NCLT order from December 9, 2025 that had admitted the company into Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. The CIRP initiated against the company now stands quashed and closed, with all directions from the NCLT order terminated. The company states it remains financially sound and operational with no impact on business. The formal written order from NCLAT is awaited.
This is a significant positive development for shareholders as the insolvency proceedings have been completely quashed. The company exits what would have been a major crisis, removing uncertainty that could have impacted the stock significantly.