Litigation Background
Two Public Interest Litigations were filed before the Hon'ble High Court at Bombay challenging the allotment of land by CIDCO to KRCPL. The Bombay High Court had directed restoration of the subject plot to its original condition and delivery of vacant possession to CIDCO. KRCPL filed a Special Leave Petition in the Hon'ble Supreme Court of India against this order.
Current Development
The Hon'ble Supreme Court of India passed a favorable judgment on May 26, 2026, setting aside the Bombay High Court's direction requiring restoration of the plot to its original condition and delivery of vacant possession to CIDCO. The Supreme Court upheld a mechanism for regularization of the allotment, subject to payment of amounts as determined by the SC.
Additional Information
The detailed copy of the judgment/order has been received and is being evaluated by the Company. The Company will provide additional disclosures if required. This update follows the Company's previous disclosure on pending material litigations/disputes dated August 14, 2023.