NCLAT quashes insolvency proceedings against Embassy Developments

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According to a regulatory filing made by Embassy Developments connected Monday, the appellate tribunal acceptable speech an bid from the National Company Law Tribunal (NCLT) that had admitted the firm insolvency solution process against the institution connected December 9, 2025, connected a plea by Canara Bank that the institution was liable arsenic a firm guarantor for loans worthy ₹372.35 crore issued to Sinnar Thermal Ltd.

The National Company Law Appellate Tribunal (NCLAT) quashed insolvency proceedings against Embassy Developments Ltd., a city-based existent property developer.

According to a regulatory filing made by Embassy Developments connected Monday, the appellate tribunal acceptable speech an bid from the National Company Law Tribunal (NCLT) that had admitted the firm insolvency solution process against the institution connected December 9, 2025, connected a plea by Canara Bank that the institution was liable arsenic a firm guarantor for loans worthy ₹372.35 crore issued to Sinnar Thermal Ltd.

Published - May 04, 2026 10:21 p.m. IST

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