Eraaya Lifespaces Limited shareholders approved all 21 resolutions at its Extra-Ordinary General Meeting (EGM) held on June 08, 2026, through Video Conferencing. The meeting authorized the issuance of equity shares and warrants on a preferential basis, along with material related party transactions for the financial years 2025-26 and 2026-27. The resolutions were passed with the requisite majority based on the Scrutinizer's Report submitted by M/s V.K. Goel & Associates.

Resolutions Passed

The shareholders approved the issuance of up to 3,12,41,250 Fully Convertible Warrants on a preferential basis to promoter and non-promoter categories. Additionally, resolutions were passed to issue equity shares for consideration other than cash and to convert existing loans into equity shares. The meeting also sanctioned the raising of funds through the issuance of securities and authorized the Board to borrow money under Section 180(1)(c) of the Companies Act, 2013.

Related Party Transactions

Approval was granted for material related party transactions with subsidiaries, step-down subsidiaries, and entities under the Ebix group, such as Ebix Technologies Limited and EbixCash World Money Limited, for FY 2026-27. The meeting also ratified similar transactions entered into during FY 2025-26. Furthermore, transactions with Vikas Lifecare Limited and Advik Capital Limited, entities sharing the same promoter group, were approved and ratified for the respective financial years.

Board Appointments and Governance

The EGM saw the appointment of Prof. Anil Kumar as a Director and Independent Director, Mr. Sushil Gupta and Mr. Ashish Sharma as Directors, and Mrs. Ila Gupta as an Independent Woman Director. The company also sought approval for the recoupment of intragroup service charges from its subsidiaries. The proceedings were scrutinized by Mr. Rohit Goel of M/s V.K. Goel Associates, with the voting results disclosed in the Scrutinizer's Report.

Eraaya Lifespaces Limited has been impleaded as a defendant in a civil suit filed by a public shareholder concerning allegations of coordinated voting on company resolutions. The suit, bearing No. Civ/DJ 527/26, was filed before the District Judge (West District) at Tis Hazari Courts, New Delhi. The plaintiff contends that certain shareholders acted in a coordinated manner regarding the exercise of voting rights on resolutions related to governance, compliance, and corporate decision-making without required disclosures.

The proceedings raise issues regarding shareholder rights, compliance with the company's constitutional documents, and the impact of coordinated voting on the approval of resolutions requiring higher shareholder thresholds. The company stated that the matters are presently sub judice and relate to the existence of commonality of conduct and voting patterns. Eraaya Lifespaces has been named as Defendant No. 1 in the proceedings.

In an order dated June 1, 2026, the Hon'ble Court did not grant any ad-interim ex-parte relief and listed the matter for further proceedings. The court observed that if any company meeting is convened during the pendency of the proceedings, all shareholders are expected to act in the larger interest of the company and in compliance with the Memorandum and Articles of Association.

The company confirmed that no relief has been sought against it and no adverse order has been passed. Eraaya Lifespaces disclosed that there is no violation or contravention alleged against it in the suit. Consequently, the company reported that there is no adverse impact on its business operations, financials, or other activities, and operations continue in the ordinary course.

Eraaya Lifespaces stated it will continue to fully comply with the proceedings and any directions of the court. The company intends to take all appropriate steps available in law to safeguard its interests and those of its shareholders and other stakeholders.