Background and Context
The disclosure refers to a previous communication dated March 05, 2026, where the company had informed about amicable resolution of disputes with Aicitta Intelligent Technology Private Limited and its promoters Arjun Das and Vikram Sarin through Consent Terms dated March 04, 2026. This filing is made pursuant to Regulation 30 read with Para B of Part A of Schedule III of SEBI Listing Regulations and SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
Settlement Details
The matter has been fully and finally settled between the parties pursuant to the Consent Terms dated March 04, 2026. The company has received the Final Award/Order passed by the Sole Arbitrator in accordance with the Consent Terms.
Financial Terms and Recovery
- The Respondents (Aicitta Intelligent Technology Private Limited and its promoters) agreed to pay a gross settlement amount of ₹2,12,41,096 (₹2.12 crore) to the company
- The entire settlement amount has been paid by the Respondents in installments
- The last installment was received on August 08, 2026
- The disclosure explicitly states: "No financial impact on the Company"
Arbitration Proceedings
The Sole Arbitrator passed the Award on August 27, 2026, disposing of the arbitration proceedings in terms of the Consent Terms. The arbitration was conducted through an Arbitral Tribunal.