Embassy Developments Limited provided an update on the proceedings before the National Company Law Appellate Tribunal (NCLAT). The matter, concerning an order by the NCLT that allegedly admitted the Corporate Insolvency Resolution Process (CIRP), was heard on February 27, 2026. The NCLAT confirmed that the impugned NCLT order remains stayed, keeping the CIRP inoperative. The case has been marked as part-heard and scheduled for continuation on March 13, 2026.
Update on Appellate Tribunal Hearing
Embassy Developments Limited, formerly known as Equinox India Developments Limited, has issued a status report regarding the ongoing legal matter before the Hon’ble National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi. The case was listed for hearing on February 27, 2026, where the NCLAT heard submissions from the counsel representing the Company.
Proceedings Progress and Next Date
Following the arguments presented on February 27, 2026, the proceedings have progressed. The matter has now been treated as part-heard by the Tribunal. Further arguments and final consideration are scheduled to resume on March 13, 2026.
Status of Impugned NCLT Order
The Company confirms that the order passed by the Hon’ble National Company Law Tribunal (NCLT), which allegedly admitted the Corporate Insolvency Resolution Process (CIRP), continues to remain stayed by the NCLAT. Consequently, the NCLT order is currently inoperative, and all related proceedings stemming from it remain stayed. Embassy Developments confirms that it continues to operate fully and maintains its sound financial position.
Source: BSE
