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The Economic Times

Economy / The Economic Times

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NCLAT ends insolvency proceedings against realty firm Embassy Development

The Delhi bench of the National Company Law Tribunal (NCLT), in December 2025, directed the initiation of insolvency proceedings against the realty firm over a plea filed by Canara Bank. The bank had alleged that Embassy Development owed Rs 200 crore as a corporate guarantor to a loan given to Indiabulls Realtech (now Simar Thermal Power).

4 May 2026 10:18 pm