Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ....
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Eraaya Lifespaces informed the stock exchange that the National Company Law Appellate Tribunal (NCLAT), New Delhi, has disposed of its appeal in the matter of Sunil Aggarwal vs. Eraaya Lifespaces. The NCLAT accepted the company's contention that its 'consent' was inadvertently recorded in the NCLT's earlier order dated February 13, 2025. It has directed the NCLT to hear the company's interim prayers on merits, without being influenced by observations made in the NCLT's subsequent order dated March 6, 2025, which had rejected the company's application to modify or vacate the February 13 order. This is a continuation of the company's earlier disclosure dated February 21, 2025.
Favorable development for shareholders — the NCLAT has given the company a fresh hearing on the merits of its interim prayers at the NCLT and accepted that its consent was wrongly recorded. This removes a key adverse observation and improves the company's chances in the underlying NCLT proceedings.