Eraaya Lifespaces Ltd — Board Meeting, 30-05-2025: Board Meeting

Eraaya Lifescapes Limited has announced a board meeting on which approved the audited financial results for the quarter and financial year ended March 31, 2025, accompanied by an unmodified audit opinion. The consolidated results are delayed due to complex financial consolidations involving its acquisition of Ebix Inc. and its 55 subsidiaries globally. The company completed the acquisition of Ebix Inc. for USD 138.527 million but has USD 27.327 million pending payment, reflected as current liabilities. It issued USD 120 million Foreign Currency Convertible Bonds (FCCBs), of which USD 40 million remains unpaid, with ongoing legal action for recovery. An NCLT order has temporarily restricted transactions related to the bonds. The company acknowledged contingent liabilities of Rs. 55.75 Cr toward unrecognized FCCB interest, pending litigation results. Presentation of sale and purchase of securities has been revised to net basis without impacting profits. The registered office address has been changed to 54 Janpath, New Delhi. The board also granted in-principle approval to invest up to ₹125 Cr in emerging and futuristic businesses aligned with its strategic growth plans.