Valor Estate Limited has secured a decisive legal victory in a four-decade-long land title dispute, with the Bombay High Court dismissing the Union of India's appeal on April 30, 2026. The ruling confirms the land ownership rights of the company's wholly owned subsidiary, Miraland Developers Pvt. Ltd., over approximately 205 acres in Village Bhayandar. The company has formally communicated this development to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations 2015.

Legal Victory Details

The Bombay High Court's dismissal of First Appeal No. 1430 of 2019 marks the conclusion of extensive litigation involving the Salt Department's challenge to Miraland Developers' land title. The dispute centered on approximately 205 acres of land located at Village Bhayandar, Mira Bhayandar Municipal Corporation, District Thane.

Litigation Timeline

The legal battle began when the Union of India through the Salt Department disputed Miraland Developers' title over the land and pursued the matter through various authorities. The dispute escalated to formal litigation with the filing of Special Civil Suit No. 771 of 2011 before the Civil Judge (Senior Division), Thane.

The initial court proceedings resulted in a detailed judgment and decree dated April 13, 2018, which dismissed the Salt Department's case. However, the Salt Department challenged this decree dated April 12, 2018, and filed First Appeal No. 1430 of 2019 before the Bombay High Court.

Court Ruling Impact

The Bombay High Court's decision on April 30, 2026, brings finality to the prolonged legal proceedings that have spanned multiple decades. The ruling decisively favors Miraland Developers Pvt. Ltd., confirming the subsidiary's rightful ownership of the disputed land parcel.

Company Secretary Jignesh Shah has formally notified both BSE Limited and National Stock Exchange of India Limited about this development. The company is currently awaiting the certified copy of the High Court order to complete the documentation process.

Subsidiary Operations

Miraland Developers Pvt. Ltd., as a wholly owned subsidiary of Valor Estate Limited, holds the title to this significant land parcel in the strategically located Mira Bhayandar Municipal Corporation area. The resolution of this title dispute provides clarity on the subsidiary's land assets and removes long-standing legal uncertainties that have persisted for over four decades. The company operates under its registered office at Resham Bhavan, Veer Nariman Road, Churchgate, Mumbai.

Valor Estate Limited (formerly D B Realty Limited) has submitted its quarterly compliance certificate under SEBI regulations for the quarter ended March 31, 2026. The company filed the mandatory certificate with both BSE and NSE on April 9, 2026, demonstrating adherence to regulatory requirements for dematerialisation processes.

SEBI Compliance Filing Details

The certificate was filed in compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. Company Secretary Jignesh Shah signed the submission letter, which was digitally executed on April 9, 2026.

Registrar Confirmation

MUFG Intime India Private Limited (formerly Link Intime India Private Limited), serving as the company's registrar and share transfer agent, provided the required confirmation certificate. The registrar confirmed that all securities received from depository participants for dematerialisation during Q4 FY26 were properly processed.

Ashok Shetty, Sr. Vice President – Corporate Registry at MUFG Intime India, signed the confirmation certificate. The registrar verified that:

• Securities received for dematerialisation were confirmed (accepted/rejected) to depositories within prescribed timelines
• Security certificates comprised in the dematerialisation requests have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received were mutilated and cancelled after due verification by depository participants
• Names of depositories have been substituted in the register of members as registered owners

Corporate Information

Valor Estate Limited operates from its registered office at 7th Floor, Resham Bhavan, Veer Nariman Road, Churchgate, Mumbai-400 020. The company maintains its corporate identity number as L70200MH2007PLC166818 and continues to operate its website at www.dbrealty.co.in .

This quarterly filing represents part of the company's ongoing regulatory compliance obligations, ensuring transparency in its dematerialisation processes and maintaining proper records with stock exchanges and depositories.