Legal18 Mar 2026, 11:02 pm
Embassy Developments Ltd Subsidiary Faces Land Resumption Order from KIADB
AI Summary
Embassy East Business Park Limited, a subsidiary of Embassy Developments Ltd, has received an order from the Chief Executive Officer and Executive Member, Karnataka Industrial Areas Development Board (KIADB), to resume a 78-acre land situated at Kadugodi Industrial Area, Bengaluru Urban District. The order was passed due to alleged breaches of the terms and conditions of a Lease-cum-Sale Agreement executed with KIADB. The company intends to challenge the order, which directs them to surrender possession of the land within 30 days from the date of the order.
Key Highlights
- Embassy East Business Park Limited (EEBP) received an order from KIADB to resume a 78-acre land in Bengaluru.
- The order was passed due to alleged breaches of the terms and conditions of a Lease-cum-Sale Agreement executed with KIADB.
- EEBP intends to challenge the order and approach the Hon’ble High Court of Karnataka for suitable relief.
- The company and EEBP are evaluating the order and its implications.
- The land is held by EEBP pursuant to a Lease Cum Sale Agreement executed with KIADB, valid up to June 6, 2029.