Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.
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Eraaya Lifespaces has informed stock exchanges that the Supreme Court of India, led by the Chief Justice of India, dismissed the Special Leave Petition filed by Mr. Robin Raina, the former CEO of Ebix Inc. Raina had attempted to assert purported ownership claims over Eraaya Lifespaces and its global subsidiaries operating under Ebix Inc. Eraaya's legal team, led by former Attorney General Mukul Rohatgi, argued that Raina's claims were based on a forged document. A similar claim had already been rejected by the Delhi High Court. The company views this judgment as a strong reaffirmation of its integrity and plans to focus on value creation, sustainable growth and the strategic integration of Ebix Inc.
Positive for shareholders — this favorable Supreme Court ruling removes a significant legal overhang on Eraaya's ownership and its Ebix Inc acquisition, likely boosting investor confidence and reducing uncertainty around the company's global subsidiaries.