Key Developments
Delphi World Money Limited received order dated June 1, 2026 (published June 3, 2026) from the Commercial Court at Dwarka, New Delhi in Civil Suit No. CS 628/2025 titled Bull Value Incorporated VCC Sub-Fund vs. Walker Chandiok & Co. LLP & Others. The court returned the plaint and vacated status quo directions, validating the company's consistent position that the proceedings lacked jurisdiction since inception.
Court Observations
The Honorable Court recorded that despite two opportunities granted, the plaintiff (Bull Value Incorporated VCC Sub-Fund) failed to place on record the FCCB title documents on the basis of which it claimed to be a bondholder of the ultimate parent company. The specific observation states: "Also, it needs a highlight that despite two directions, plaintiff has not filed the title documents of the Bonds which the plaintiff claims to have been allotted by GLAS (the Trustee) on subscribing to the FCCB issued by defendant no. 2."
Financial and Operational Impact
The company states there is no impact on its business operations, financials, or other activities consequent to the order. The proceedings which were initiated without jurisdiction stand vacated, and the interim status quo directions operating in the matter also stand vacated.
Background Context
The disclosure is in furtherance to the company's previous disclosure dated December 22, 2025 regarding the non-jurisdictional litigation started by purported bondholder of ultimate holding company. The company maintains that allegations affecting its governance and operations should be supported by evidence and pursued before competent forums.
Company Position and Forward Outlook
Delphi continues to operate normally and remains focused on delivering financial services solutions, strengthening governance and compliance frameworks, expanding business opportunities, protecting stakeholder interests, and creating sustainable long-term value. The business operations continue in the ordinary course.