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The Commercial Court at Dwarka, New Delhi, on June 1, 2026, returned the plaint filed by Bull Value Incorporated VCC Sub-Fund against Eraaya Lifespaces and vacated the earlier status quo directions. The Court specifically recorded that the plaintiff failed to produce FCCB title documents on which its claimed bondholder status was based, despite being given two opportunities. Eraaya had been contesting this non-jurisdictional litigation since late 2025, arguing the plaintiff lacked standing and supporting evidence. The Company has stated there is no financial or operational impact and views this as vindication of its position.
Positive for shareholders — the dismissal of this meritless litigation removes a key source of uncertainty that had been weighing on the stock. With no financial impact and corporate actions no longer under status quo, Eraaya can proceed with its integration of Ebix Inc. and other strategic initiatives without this overhang.