Key Transaction Details
The company had previously executed a Leave and Licence Agreement with Andhra Mahila Sabha Trust (a public charitable trust) for taking on a long-term lease of land admeasuring approximately 1.168 acres (equivalent to 21.19 Grounds) located at Dr. Durgabai Deshmukh Road, Raja Annamalai Puram, Chennai, Tamil Nadu-600028. The purpose is for establishment of a Super Speciality Hospital.
Legal Proceedings Timeline
- December 21, 2025: Initial intimation regarding execution of Leave and Licence Agreement
- Plaintiffs Mrs. Lakshmi Murthy and Ms. Vidya Gajapathi Raju Singh initiated proceedings under Section 92 of the Code of Civil Procedure, 1908, questioning the administration and functioning of the Trust, including the lease transaction
- Krishna Institute of Medical Sciences Limited was arrayed as Defendant No. 12 in the representative suit
- July 29, 2026: Learned Single Judge granted leave to institute the suit against the Defendants
- September 15, 2026: Trust's appeal against the order was dismissed by Division Bench, interim stay vacated
- October 27, 2026: Company's Special Leave Petition to Supreme Court was dismissed
Current Status and Impact Assessment
The proceedings remain pending adjudication on their merits with no final determination made regarding the allegations raised. No order of injunction or stay restraining the company from proceeding with the project has been passed. The company's rights and interests under the Leave and Licence Agreement continue to prevail subject to its terms and applicable law. The project's commercial viability and underlying value remain intact as per the disclosure.