Embassy Developments clarifies status post-IBC inclusion, requests removal from ASM Framework
Embassy Developments Limited (EDL) has made representations to the BSE and NSE regarding the inadvertent inclusion of its scrip under the Additional Surveillance Measure (ASM Framework) and reclassifi...
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Why is Embassy Developments Limited in the news today?
Embassy Developments Limited (EMBDL) is in the news due to the announcement is a clarification to correct a potential misunderstanding regarding the company's status under the ibc and subsequent inclusion in the asm framework. while it aims to reassure stakeholders, the initial inclusion in the asm framework and the need for clarification suggest a neutral sentiment.
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Embassy Developments clarifies status post-IBC inclusion, requests removal from ASM Framework
December 17, 2025, 03:12 AM
Embassy Developments Limited (EDL) has made representations to the BSE and NSE regarding the inadvertent inclusion of its scrip under the Additional Surveillance Measure (ASM Framework) and reclassification under the “BE” segment. This action, effective December 16, 2025, appears to be based on an earlier announcement on December 11, 2025, about a petition filed by Canara Bank against the company before the NCLT.
However, EDL clarifies that a subsequent disclosure on December 11, 2025, informed that the NCLAT had granted a stay on the NCLT order, thereby staying all proceedings under the IBC. Consequently, the company is not currently under the IBC or Corporate Insolvency Resolution Process (CIRP).
EDL has formally requested the stock exchanges to remove its equity shares from the ASM Framework and the “BE” segment, citing the subsisting stay on IBC proceedings. The company emphasizes that it is not subject to CIRP and remains financially sound and fully operational.
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