Akash Infra Projects Receives Favourable Commercial Court Order Against Ahmedabad Municipal Corporation

Akash Infra Projects Limited has made a disclosure to the National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, dated 07th May, 2026. The disclosure pertains to a Common Order received from the Commercial Court at City Civil Court, Ahmedabad, in the matter of Akash Infra Projects Limited versus Ahmedabad Municipal Corporation, Ahmedabad.

Court Ruling and Litigation Outcome

The Commercial Court at City Civil Court, Ahmedabad, delivered its ruling in the dispute between Akash Infra Projects Limited and Ahmedabad Municipal Corporation (AMC). The Court examined the Arbitrator's Awards dated 31.01.2022 and concluded that they were lawful, reasoned, and free from irrationality, finding no contradictions or patent illegality in the findings of the Arbitral Tribunal.

The following table summarises the key details of the litigation as disclosed under Regulation 30:

Parameter:	Details
Counter Party:	Ahmedabad Municipal Corporation, Ahmedabad
Court / Tribunal:	The Commercial Court at City Civil Court, Ahmedabad
Awards Date:	31.01.2022
Court's Finding:	Awards held lawful, reasoned, and free from irrationality
AMC's Plea:	Rejected — plea to quash the Awards dismissed
Contractor's Plea:	Rejected — plea to enhance awarded amounts dismissed
Outcome:	All applications by both parties dismissed; Awards upheld
Financial Implications:	Not applicable at this stage since plea of compensation is rejected
Quantum of Claims:	Not applicable in the given case

Key Highlights of the Order

The Court rejected AMC's plea to quash the Arbitrator's Awards dated 31.01.2022.
The Court also rejected the Contractor's plea to enhance the awarded amounts.
All applications filed by both parties were dismissed, and the Awards were upheld in their entirety.
No financial implications are applicable at this stage, as the plea of compensation has been rejected.
The quantum of claims has been noted as not applicable in the given case.

Regulatory Disclosure

The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023. The communication was signed by the Company Secretary and Compliance Officer on behalf of Akash Infra Projects Limited and addressed to the National Stock Exchange of India Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.33%	+1.50%	+5.22%	-3.12%	+3.37%	-87.47%

The promoter and promoter group of Akash Infra-Projects Limited have filed a statutory disclosure under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, declaring a combined shareholding of 1,25,77,468 equity shares as on March 31, 2026. The disclosure was submitted to the National Stock Exchange of India Limited on April 2, 2026, by Yoginkumar H. Patel, acting on behalf of the promoter and promoter group. The filing also confirms that no encumbrance of shares was created, either directly or indirectly, during the financial year ended March 31, 2026.

Promoter Shareholding Disclosure Under SEBI Takeover Regulations

The annual disclosure under Regulation 31(4) requires promoters and promoter groups to declare their aggregate shareholding and encumbrance status at the end of each financial year. In compliance with this requirement, Akash Infra-Projects Limited's promoter group has submitted Annexure-A detailing the individual shareholdings of 22 members, including individuals and a corporate entity. The total declared holding stands at 1,25,77,468 equity shares, with no encumbrance reported for the period.

Individual Shareholding Breakdown

The following table presents the complete shareholding details of each member of the promoter and promoter group as disclosed in Annexure-A:

Sr. No.:	Name	Number of Shares
1.	Yoginkumar H. Patel	38,40,200
2.	Ambusinh P. Gol	39,20,200
3.	Akash Yoginbhai Patel	4,47,734
4.	Sonalben Premalsinh Gol	3,82,666
5.	Himani Yoginbhai Patel	2,80,000
6.	Nitaben Yoginkumar Patel	2,66,666
7.	Daxrajsinh Ambusinh Gol	2,50,000
8.	Amitaben Dineshbhai Patel	1,33,334
9.	Narendrasinh Kubersinh Gol	1,06,666
10.	Ranu Dineshkumar Patel	1,00,000
11.	Nikhil Bharatbhai Patel	1,00,000
12.	Priyal Dineshbhai Patel	1,00,000
13.	Chandaniba Narendrasinh Gol	53,334
14.	Vinodbhai Haribhai Patel	53,334
15.	Shilpa Vinodkumar Patel	53,334
16.	Kamlaben Patel	53,334
17.	Urvashi Mayursinh Vagehla	53,334
18.	Premalsinh Punjaji Gol	10,00,000
19.	Dineshbhai Haribhai Patel	8,00,000
20.	Bhavana Ambusinh Gol	3,16,666
21.	Akash Residency and Hospitality Private Limited	2,66,666
22.	Kamlaben Punjaji Gol	0
Total:		1,25,77,468

Key Highlights of the Disclosure

Total promoter and promoter group shareholding (including PAC) as on March 31, 2026: 1,25,77,468 equity shares
Largest individual holders: Ambusinh P. Gol (39,20,200 shares) and Yoginkumar H. Patel (38,40,200 shares)
Corporate entity in promoter group: Akash Residency and Hospitality Private Limited holds 2,66,666 shares
Encumbrance status: No encumbrance created directly or indirectly during the financial year ended March 31, 2026
Filing date: April 2, 2026
Signatory: Yoginkumar H. Patel, Promoter

The disclosure was addressed to the National Stock Exchange of India Limited and copied to the Audit Committee of Akash Infra-Projects Limited at its registered office in Gandhinagar, Gujarat. The filing is in accordance with the mandatory annual disclosure requirements prescribed under SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011.