IBREL-Embassy merger approved

In a major relief to Indiabulls Real Estate (IBREL) and Embassy Group, the appellate tribunal National Company Law Appellate Tribunal (NCLAT) has sanctioned the scheme of amalgamation to merge both the real estate firms after setting aside the National Company Law Tribunal (NCLT) order stalling the process.

- PTI

"We set aside the impugned order of NCLT, Chandigarh and allow the prayer to sanction the scheme of amalgamation between the appellants (In