Embassy Developments Limited announced an update on legal proceedings before the National Company Law Appellate Tribunal (NCLAT). A scheduled hearing on February 19, 2026, was adjourned to February 27, 2026. The company confirmed that the stay order on the impugned order admitting the Corporate Insolvency Resolution Process (CIRP) by the NCLT remains in effect, ensuring the company continues to operate fully and soundly.
Update on Appellate Tribunal Hearing
Embassy Developments Limited (formerly known by various names, including Indiabulls Real Estate Limited) has provided an update regarding the matter pending before the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi. This intimation follows up on the disclosure made on February 6, 2026.
The hearing originally scheduled for February 19, 2026, for further arguments and disposal could not proceed as planned. The matter has now been officially adjourned to February 27, 2026.
Status of Insolvency Proceedings
The company confirmed that the stay order previously granted by the NCLAT against the order passed by the National Company Law Tribunal (NCLT)—which had admitted the Corporate Insolvency Resolution Process (CIRP)—continues to remain in effect. Consequently, the NCLT order is presently inoperative, and all associated proceedings arising from it remain stayed.
Operational Confirmation
Embassy Developments Limited further affirmed that, despite the ongoing litigation, the Company continues to remain fully operational and financially sound. The disclosure was signed by Vikas Khandelwal, Company Secretary, on February 20, 2026.
Source: BSE
