Embassy Developments Limited has provided an update following the hearing before the National Company Law Appellate Tribunal (NCLAT) on March 19, 2026. The Tribunal granted an adjournment to the Respondent, stipulating no further delays. The impugned order from the NCLT, which admitted the Corporate Insolvency Resolution Process (CIRP), remains stayed, confirming the company continues to be fully operational and financially sound. The next listing is set for April 10, 2026.
Update on Appellate Tribunal Proceedings
Embassy Developments Limited (formerly Equinox India Developments Limited) has informed the exchanges regarding the proceedings before the Hon’ble National Company Law Appellate Tribunal (NCLAT) in New Delhi. This update follows the prior intimation issued on March 14, 2026.
Hearing Outcome and Next Steps
The matter was listed for a hearing on March 19, 2026. During the hearing, the counsel representing the Respondent successfully prayed for an adjournment, which was subsequently granted by the NCLAT. Significantly, the Tribunal observed that no further adjournment shall be sought by the Respondents moving forward. Consequently, the case has been scheduled for April 10, 2026, for the Respondents to present their submissions and for further procedural steps.
Status of Insolvency Order
The company explicitly confirmed that the impugned order previously passed by the Hon’ble National Company Law Tribunal (NCLT) that admitted the Corporate Insolvency Resolution Process (CIRP) continues to remain stayed by the NCLAT. This means the NCLT order is currently inoperative, and all related proceedings remain suspended. Furthermore, Embassy Developments Limited affirmed that the Company continues to remain fully operational and financially sound.
Source: BSE
