Catalyst Trusteeship Limited has announced the release and re-pledge of 6,30,95,240 equity shares of Embassy Developments Limited held by JV Holding Private Limited. The transaction was completed on March 17, 2026, and involves the transfer of shares between demat accounts of the same holder.

Transaction Details

The share transfer process was carried out at the discretion of the debenture holder and does not constitute a fresh acquisition by way of pledge. According to Catalyst Trusteeship Limited, no disclosure requirement under Regulation 29(2) of SEBI SAST Regulations arises from this transaction.

Original Pledge Creation

The shares were originally pledged on December 29, 2025, to secure the issue of 2,550 secured, unlisted, redeemable and non-convertible debentures. Each debenture carries a face value of ₹10,00,000, with the total issue aggregating to ₹255,00,00,000.

Share Capital Structure

At the time of original pledge creation, Embassy Developments Limited had an equity share capital of ₹278,12,66,866 comprising 139,06,33,433 equity shares of ₹2 each. The pledged shares represented 4.537% of the total share capital and 4.469% of the total diluted share capital.

Regulatory Compliance

Catalyst Trusteeship Limited has informed the National Stock Exchange of India Limited, BSE Limited, and Embassy Developments Limited about the transaction. The company emphasized that the process merely involves an internal transfer and does not amount to a fresh acquisition requiring regulatory disclosure under SEBI takeover regulations.

The debenture trustee has provided a copy of the original disclosure dated December 31, 2025, submitted under Regulation 29(2) of SEBI SAST Regulations for reference purposes.

Embassy developments Limited has notified stock exchanges regarding the further adjournment of its National Company Law Appellate Tribunal (NCLAT) proceedings from March 19, 2026, to April 10, 2026. The company filed this update under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, continuing its commitment to transparent stakeholder communication.

NCLAT Hearing Progress and Latest Adjournment

During the March 19, 2026 hearing before the NCLAT Principal Bench in New Delhi, the learned counsel representing the respondents requested an adjournment. The Hon'ble Tribunal granted this request but made a significant observation that no further adjournment shall be sought by the respondents. The matter has been rescheduled for April 10, 2026, for submissions on behalf of the respondents and further proceedings.

Current Legal Status and Operations

The company confirmed that the NCLAT's stay on the National Company Law Tribunal (NCLT) order remains in effect. This stay continues to render the NCLT's Corporate Insolvency Resolution Process (CIRP) admission order inoperative, with all related proceedings remaining suspended.

Embassy Developments emphasized that despite the ongoing legal proceedings, the company maintains full operational capacity and financial stability. The stay order ensures business continuity while the appellate process continues.

Regulatory Compliance and Corporate Structure

The notification was simultaneously sent to both BSE Limited (Scrip Code: 532832) and the National Stock Exchange of India Limited (Symbol: EMBDL), fulfilling the company's regulatory obligations under SEBI disclosure requirements.

Embassy Developments continues to monitor the proceedings closely and maintains its commitment to providing timely updates to all stakeholders as developments occur in this appellate matter.