Clarification on Recent Misleading Press Articles

This is with reference to some articles that recently appeared in the press relating to a judgement of the Hon’ble High Court of Punjab and Haryana which have raised unfounded concerns amongst our valued customers. The said articles refer to a Hon’ble High Court judgement quashing a 2009 Haryana government notification for acquisition of 1400 acres of land in Gurgaon Sector 58 to 63. Furthermore, some of these articles erroneously speculate that two  Ireo projects, namely The  Grand Arch and Ireo Skyon,  may be  impacted by this reported judgement.

To allay any undue anxiety amongst our valued customers, we would like to categorically assure you that the entire land bank in Gurgaon being developed by IREO has not  been transferred/sold by the government to Ireo or acquired for Ireo under the government acquisition proceedings. The land for all our projects, including the land of the two projects specifically mentioned in the press reports – namely, The Grand Arch and Ireo Skyon, was procured privately and is not affected by the said judgment.

We are currently awaiting availability of the actual judgement copy, and will update you in due course.

As always, we reiterate our commitment to maintaining transparent communication with our valued customers. Should you need any further clarification, feel free to get in touch with us at (91-124) 3874700/701 between 09:00 a.m. to 06:00 p.m. or write to us at Alternately, you may also contact us at (91-124) 4754300 in case you are not able to reach us at the above numbers.


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