Vikas Lifecare Makes $34.8 Million Contribution to Ebix Acquisition, Initiates Arbitration Against Eraaya Feb 24, 2025
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21Feb 25
Vikas Lifecare Invests $34.827 Million in Ebix Acquisition, Initiates Arbitration Against Eraaya
Vikas Lifecare Limited has invested $34.827 million in the acquisition of Ebix Inc., led by Eraaya Lifespaces Limited. The company has now invoked arbitration proceedings against Eraaya, citing non-repayment of the outstanding amount. Hon'ble Mr. Justice (Retd.) Vinod Goel has been appointed as the Sole Arbitrator. The original agreement was signed on May 24, 2024, with an addendum on August 16, 2024. Vikas Lifecare aims to recover the invested amount along with interest and potential damages.