The Bombay High Court has approved consent terms to resolve a long-standing shareholder dispute at Ebix Payment Services, a step-down subsidiary of Eraaya Lifespaces linked to the ItzCash payments platform. Under the settlement, Eraaya will execute a complete buyout of minority shareholding for approximately INR 180 crore, to be discharged over an agreed timeframe.
With this development, Eraaya has resolved a long-pending shareholder issue related to Ebix Payment Services.
Eraaya disclosed the development in an exchange filing on April 14, 2026 under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The dispute stemmed from legacy structures put in place under the previous Ebix group management. Eraaya clarified that the obligation was “not part of the Chapter 11 resolution process or the acquisition consideration paid by Eraaya, thereby representing an inherited overhang post-acquisition.”
The company had acquired Ebix Inc. and all its global subsidiaries in August 2024, when Ebix was undergoing Chapter 11 bankruptcy proceedings in the United States.
Despite having no original contractual obligation, Eraaya stated it took “a considered and decisive call to resolve the matter in entirety, with the objective of eliminating uncertainty, simplifying the group structure, and enabling sharper strategic focus on core operating priorities.”
The company described the court-approved settlement as reflecting “a decisive governance-led approach, prioritising resolution over deferral.” Eraaya added that with the court’s approval, the matter “attains finality and removes longstanding structural constraints” and will “enhance operational flexibility within the payments business.”
Detailed financial terms remain undisclosed owing to confidentiality obligations.
