Imagicaaworld Entertainment Limited has announced a favourable outcome in an arbitration award issued on August 12, 2026. The award, concerning a matter between Bharat Lekhraj Harwani and Rajendra Ramvilas Jakhotia & Ors., found no liability imposed on the company. This development is positive as it avoids any potential financial or operational impact on Imagicaaworld Entertainment.
Favorable Arbitration Outcome
Imagicaaworld Entertainment Limited has received a significant legal update with a favourable arbitration award. The award was issued on August 12, 2026, by Sole Arbitrator Ld. Vijay C. Daga, Former Judge of the Bombay High Court. This ruling pertains to an arbitration matter involving Bharat Lekhraj Harwani (“Claimant”) and Rajendra Ramvilas Jakhotia & Ors. (“Respondents”), in which Imagicaaworld Entertainment Ltd was also listed as a respondent.
No Financial Liability Imposed
The company is pleased to report that the aforesaid arbitration award is entirely favourable and crucially, has not imposed any liability on Imagicaaworld Entertainment. The arbitration proceedings had initially involved claims related to specific performance on certain land parcels owned by the Company, but the Arbitral Tribunal held that the Claimant was not entitled to specific performance.
Impact on Operations
The impact on the financial, operational, or other activities of the listed entity is assessed as NIL. While future litigation defence costs are expected to be minimal, the current outcome indicates a resolution that does not negatively affect the company’s financial standing or business operations. This resolution brings closure to a significant legal proceeding, ensuring stability and continued focus on the company’s growth initiatives.
Source: BSE
