Emerald Leisures Ltd — Updates, 23-05-2025: Company Update

Emerald Leisures Limited faces a litigation initiated by Juhu Resorts and Development Pvt. Ltd., a promoter-related entity, seeking repayment of inter-corporate deposits (ICD) amounting to Rs. 22.19 Cr. The company argues no default has occurred, asserting Juhu Resorts is a quasi-equity holder tied to a term loan facility with Aditya Birla Capital Ltd. (ABCL), which restricts ICD repayment until full loan settlement. ABCL supports the company’s stance, confirming ICDs are treated as quasi-equity used for operations and governed by loan terms. Legal opinion favors Emerald Leisures, and no financial penalties beyond loan repayment are expected.