Oberoi Realty Limited has clarified that the Punjab and Haryana High Court has not stayed construction of its project Three Sixty North at Golf Course Extension Road, Sector 58, Gurugram. Existing concluded sales remain unaffected. The clarification addresses media reports about an order dated July 7, 2026, uploaded on the court's website on July 9, 2026, in a writ petition by Advance India Projects Limited against the Director of Town and Country Planning, Haryana, and others.
The High Court directed the Director of Town and Country Planning to decide the complaint filed by the petitioner in accordance with law on July 20, 2026, after giving adequate opportunity to all stakeholders including the petitioner. If the application cannot be decided on that date, the Director must hear it on a day-to-day basis and decide it within a further period of two weeks strictly in accordance with law.
The court directed that all pleas taken by all parties shall be duly considered and a decision shall be made on all pleas in a categorical and clear manner through a speaking order conveyed to all parties. Considering the magnitude of the project and the rights of various allottees and prospective allottees, the court directed that no further allotment shall be made to any further prospective allottee until the complaint is decided.
Oberoi Realty clarified that the order does not impact any existing sales already concluded, which were disclosed to stock exchanges on July 5, 2026. There is no stay on construction of the project. Oberoi Realty stated that the order does not have any adverse material impact on its business and operations.
Oberoi Realty will pursue the necessary legal course of action as advised by professional legal counsel.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.