Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Further update on legal proceedings initiated by M/s Vedas Opportunities Fund.
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Eraaya Lifespaces informed the stock exchange about a favourable development in the ongoing legal case with M/s Vedas Opportunities Fund. The Delhi High Court, on December 16, 2025, set aside the Appellate Court's interim order that had reinstated an ex-parte restraint (which the Trial Court had already vacated). The Trial Court's order has been restored, and the Appellate Court has been directed to hear the matter afresh within a set timeframe. The Appellate Court part-heard the case on December 18, 2025, with the next hearing scheduled for January 5, 2026. As of now, there is no active court order or restraint stopping the company from issuing or converting securities.
Positive for shareholders — the removal of the interim restraint clears the way for the company to freely issue or convert securities. The underlying case is still pending, but the immediate legal hurdle has been lifted, reducing near-term uncertainty for the stock.