Embassy Developments Limited has announced an update regarding the Corporate Insolvency Resolution Process. Canara Bank has filed an appeal with the Hon’ble Supreme Court of India against a previous order dated May 4, 2026, which favored the company. The matter is scheduled for a hearing on September 24, 2026. No interim orders or stays have been granted, and the previous order remains in force.
Supreme Court Hearing Scheduled for Insolvency Appeal
Embassy Developments Limited has provided an update on proceedings related to its Corporate Insolvency Resolution Process. The company confirmed that Canara Bank has initiated an appeal before the Hon’ble Supreme Court of India. This appeal is in response to an order passed on May 4, 2026, by the Hon’ble NCLAT, which was in favor of Embassy Developments Limited.
No Interim Relief Granted
It is important to note that no interim order, stay, or other interim relief has been granted by any court against the NCLAT Order dated May 4, 2026. Consequently, the said order continues to remain in force. The company stated that the matter is listed for hearing before the Hon’ble Supreme Court on September 24, 2026.
Company’s Stance
Embassy Developments Limited expressed confidence in its position and reiterated its commitment to upholding strong governance standards and protecting stakeholder interests. The company intends to take necessary legal steps to protect and defend the interests of the Company, its shareholders, and other stakeholders.
Source: BSE
