Mumbai, March 17 -- Eraaya Lifespaces announced that the Company has initiated legal action(s) against Elara Capital PLC in High Court of Justice, Kings' Bench Division, England and Wales for release of remaining FCCBs proceeds amounting USD 40 Million. Background: Eraaya Lifespacesafter obtaining in principle approval from its members in the Extra-Ordinary General Meeting held on 29 July 2024, issued an Offering Circular dated 23 August 2024. Pursuant thereto, Foreign Currency Convertible Bonds due 2031 (FCCBs) totaling to USD 120 Million were issued.

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