Supreme Court dismisses review petition in Lancor property dispute

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LANCORHOL · price

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Price reactionminutes from the announcement price · days from the prior close

+3.8%Reaction day

₹28.80

prior close

₹28.86

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.8%+4.6% vs market

Residential Commercial Projects peers, median of 61sector-1.0%+4.8% vs sector

On the reaction day the stock moved 4.6 pts more than Nifty Microcap 250 and 4.8 pts more than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

The Supreme Court has dismissed a Review Petition filed by Prem Kumar Menon against Lancor Holdings in a dispute over the commercial property Menon Eternity at St Marys Road, Chennai. The court had earlier confirmed that the sale deeds in favor of the company are valid and lawful, establishing rightful ownership. With the review now dismissed, the company retains full possession and is free to deal with the property as it deems fit. The company has termed the litigation as closed.

Likely market impact

Positive outcome for shareholders - litigation closed, Lancors ownership of Menon Eternity property is fully upheld and unrestricted.