Embassy Subsidiary's 78-Acre Land Case Update

This is a disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It provides an update on ongoing legal proceedings concerning a land parcel held by Embassy East Business Park Limited (EEBPL), a subsidiary of Embassy Developments Limited.

The Division Bench of the Hon'ble High Court of Karnataka pronounced an order on June 15, 2026. This order sets aside a previous order dated May 12, 2026, which was passed by a vacation bench of the same court. The May 12 order had been in favor of EEBPL, as it had set aside a resumption order dated March 16, 2026, issued by the Karnataka Industrial Areas Development Board (KIADB).

The subject of the dispute is a land parcel measuring approximately 78 acres, situated at Kadugodi Industrial Area, Bengaluru Urban District, and held by EEBPL.

The Division Bench clarified that it has not expressed any opinion on the merits of the underlying dispute or on the appellant's locus standi. All issues, including the validity of the original KIADB resumption order, remain open and are to be considered on their merits by the regular roster bench of the Hon'ble High Court.

The Division Bench also directed that an undertaking previously furnished by KIADB before a Single Judge shall remain in force. This undertaking states that no coercive action shall be taken regarding the land.

The formal, signed copy of the Division Bench's order is awaited by the company. Upon receipt, Embassy Developments Limited and EEBPL will evaluate it and pursue appropriate legal remedies. The company and its subsidiary continue to maintain that the KIADB resumption order dated March 16, 2026, is invalid and liable to be set aside on merits.

The matter now stands restored for fresh consideration on its merits before the regular bench of the Hon'ble High Court. No final adjudication on the validity of the resumption order has been made.

The expected financial implications are under evaluation. The disclosure states, "The Company and EEBPL are in the process of evaluating the order and its implications."

This intimation is a continuation of earlier disclosures made on March 18, 2026, March 27, 2026, and May 13, 2026.

The disclosure was signed by Vikas Khandelwal, Company Secretary, for Embassy Developments Limited (formerly Equinox India Developments Limited and earlier Indiabulls Real Estate Limited).