NCLAT scraps insolvency order against Embassy Developments ending the resolution process

The insolvency order is gone, but what about creditors

The National Company Law Appellate Tribunal has set aside an earlier NCLT order that had pushed Embassy Developments into insolvency proceedings. With the appellate ruling, the corporate insolvency resolution process ends, while the firm’s projects and operations remain unaffected. The decision comes after the developer reported strong fiscal year performance and substantial pre-sales.