Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.
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Eraaya Lifespaces has informed the stock exchange about an ex-parte interim order passed by the Court of Senior Civil Judge cum Rent Controller at Tis Hazari, Delhi, on May 5, 2025. The order stems from a civil suit filed by Vedas Opportunities Fund, one of the allottees in the company's QIP issue (allotted 26,200 equity shares), who is challenging the Preferential Issue approved at the 58th AGM held on September 28, 2024. The court has restrained the company from issuing any Compulsorily Convertible Warrants on a preferential basis, from converting any such warrants, and from receiving money that may reduce the plaintiff's percentage shareholding. The company has called the claims 'fabricated and baseless' and pointed out that the plaintiff had already sold its entire QIP allotment in January 2025 at a profit before filing the suit. Eraaya Lifespaces has stated it is taking suitable legal action, and at this stage the financial or operational impact cannot be quantified.
The interim order restricts the company's ability to raise capital through preferential warrants and related instruments until the court rules on the matter, which could delay planned fundraising. However, since the company is contesting the suit and the plaintiff has already exited its QIP holding, the long-term impact on shareholders depends on how the court finally adjudicates the challenge.