Edelweiss Financial Services Limited — Updates, 16-03-2025: Press Release

Edelweiss Financial Services Limited has addressed a media report misrepresenting the situation with Ecstasy Realty Pvt Ltd, a borrower with a substantial debt of approximately ₹1,683 crores, which includes ₹480 crores in overdue principal. The company clarified that the dispute with Ecstasy is civil, currently pending in the Bombay High Court, where interim relief was denied in 2022. Despite receiving financial support, including the purchase of apartments for around ₹127 crores, Ecstasy failed to meet key project milestones, leading to liquidity challenges.

Edelweiss has consistently adhered to legal standards in all transactions, countering claims of impropriety and refuting a baseless ₹61.68 crore "siphoning" allegation. Furthermore, the media's report mentioned a ₹750 crore fraud case, which does not feature in any official complaint. The company remains committed to safeguarding shareholder value and pursuing all necessary legal channels to recover outstanding dues, indicating a proactive stance despite the negative narrative. Investors should watch closely as the resolution of this civil dispute could significantly impact the company's operations and market perception.