Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.
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Awaiting price reaction for this filing.
Eraaya Lifespaces has disclosed the conclusion of an arbitration case filed by Vikas Lifecare Limited, a consortium partner in Eraaya's acquisition of Ebix Inc. (a US-listed company under Chapter 11). Vikas Lifecare had contributed USD 34.827 Million towards the bid amount for Ebix. The acquisition of Ebix was completed on August 30, 2024, but Eraaya failed to repay Vikas Lifecare on time because USD 40 Million of its FCCB issue proceeds were not released by intermediaries. An arbitration award was passed on July 8, 2025, by former Delhi High Court Justice Vinod Goel. The specific terms of the award have not been disclosed in this filing.
The financial impact of the award on Eraaya is not yet clear, as the company states it cannot be assessed in isolation. Shareholders should watch for further disclosures on the award's financial implications, as it could result in a payout to Vikas Lifecare and potentially affect the stock.