Embassy Developments Limited has successfully completed the voluntary strike-off of three non-operational step-down subsidiaries as part of its corporate restructuring initiative. The company informed stock exchanges on March 16, 2026, that the subsidiaries have been officially struck off from the register of companies maintained by the Registrar of Companies, Delhi.

Subsidiaries Struck Off

The three entities that have been dissolved are:

All three subsidiaries have now ceased to be subsidiaries of Embassy Developments Limited following their dissolution.

Strategic Corporate Restructuring

This strike-off action represents a continuation of Embassy Developments' broader corporate simplification strategy. The company had previously intimated similar actions through communications dated January 29, 2026, February 05, 2026, and March 10, 2026, indicating a systematic approach to streamlining its subsidiary structure.

The primary objectives of this restructuring initiative include:

• Simplifying the overall corporate structure
• Reducing administrative costs
• Minimizing compliance-related expenses

Financial Impact Assessment

According to the regulatory disclosure, the financial impact of these strike-offs is minimal. The dissolved subsidiaries contributed nil amounts across all key financial metrics during the last financial year:

Regulatory Compliance

Embassy Developments emphasized that this transaction does not qualify as a sale of any units, divisions, or substantially the whole undertaking of the listed entity. However, in the interest of good corporate governance and as an abundant precaution, the company provided detailed disclosures in the format prescribed under the SEBI Master Circular dated January 30, 2026.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full transparency with stakeholders and regulatory authorities.

Embassy developments Limited has notified stock exchanges regarding the adjournment of its National Company Law Appellate Tribunal (NCLAT) proceedings from March 13, 2026, to March 19, 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 Adjournment

During the March 13, 2026 hearing before the NCLAT Principal Bench in New Delhi, the company's senior counsels successfully completed their submissions and arguments. However, the proceedings were adjourned when counsel representing the respondents requested additional time to complete their submissions.

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 Transparency

The company proactively shared this update with stakeholders even before receiving the formal adjournment order from the tribunal. This approach demonstrates Embassy Developments' commitment to maintaining high governance standards and ensuring timely disclosure to all stakeholders.

The notification was simultaneously sent to both BSE Limited and the National Stock Exchange of India Limited, fulfilling the company's regulatory obligations under SEBI disclosure requirements. Embassy Developments continues to monitor the proceedings closely and will provide further updates as developments occur.