The National Company Law Appellate Tribunal (NCLAT) quashed insolvency proceedings against Embassy Developments Ltd., a city-based real estate developer.
According to a regulatory filing made by Embassy Developments on Monday, the appellate tribunal set aside an order from the National Company Law Tribunal (NCLT) that had admitted the corporate insolvency resolution process against the company on December 9, 2025, on a plea by Canara Bank that the company was liable as a corporate guarantor for loans worth ₹372.35 crore issued to Sinnar Thermal Ltd.