This disclosure is an update to a previous letter dated 27 November 2025, provided under Regulation 30 of the SEBI Listing Regulations. It concerns an arbitration proceeding between Mahindra Lifespace Developers Limited and M/s. Parekh & Brothers.
Nature of the Event
The filing is a regulatory update on the status of a previously disclosed arbitration dispute.
Key Quantitative Figures
The opposing party, Parekh & Brothers, had filed a Statement of Claim dated 24 November 2025, claiming an amount of Rs. 32.96 Crores. The claim included, amongst other items, an amount of Rs. 22.22 crores for delay compensation for sold and unsold flats.
Dates of Action
The initial Statement of Claim was received by the company on 26 November 2025 at 5:39 pm. The matter has now been amicably resolved, with a Final Award passed on 27 July 2026. The certified copy of the order was received by the company on the same day at 16:01 pm.
Parties Involved
The opposing party in the arbitration is Parekh & Brothers. The proceedings were filed before a Sole Arbitrator.
Current Status and Outcome
The company has amicably resolved the matter. The Final Award was passed, and the parties have mutually agreed to comply with their obligations, which must be completed by the end of September 2026.
Financial or Operational Impact
As per the company's internal assessment, the settlement has no material impact on its financial position, except to the extent of the mutually agreed conditions between the parties. The company had previously stated it did not expect any material financial impact from the litigation.