Delhi High Court Denies Relief to Ex-Ebix CEO Robin Raina in Legal Dispute

Delhi High Court has denied interim relief to Robin Raina, former CEO of Ebix, Inc., who seeks a 50% stake in Eraaya Lifespaces Ltd. The court addressed accusations of forgery and misconduct amidst ongoing investigations, while dismissing claims for property rights and reinstatement.

The Delhi High Court has rejected an interim relief request by Robin Raina, the former CEO of Ebix, Inc., who claims he is entitled to a 50% shareholding in Eraaya Lifespaces Ltd. Raina also sought reinstatement and access to a farmhouse owned by the company, arguing he led it for nearly two decades.

Raina's petition, referencing a consortium agreement from August 16, 2024, accuses Eraaya and Vikas Lifecare Ltd of breaching its terms. He was removed from Eraaya's board on September 27, 2024, amid financial irregularity investigations. His assertion of ownership over an Ebix property in Greater Noida was contradicted by court-appointed inspectors who found Ebix still held possession.

The court was presented with accusations against Raina involving forged documents and misleading claims about investment and equity stakes. Advocates for Eraaya and Vikas challenged his accusations, labeling Raina as a 'disgruntled former employee,' and stressed unmet obligations tied to a prior consortium arrangement.

(With inputs from agencies.)