Parties Involved

The arbitration has been initiated by:

  • Avathon, Inc. (based in Austin, Texas)
  • SparkCognition India Private Limited (based in Bengaluru)

Arbitration Details

  • Filing Date: Request for Arbitration dated May 28, 2026
  • Arbitration Body: International Chamber of Commerce (ICC), New York, USA
  • Nature of Dispute: Arises from an agreement where the company proposed to purchase and resell certain products of Avathon/SparkCognition. The claimants allege breach of contract by the company.

Financial Implications

  • Claim Amount: USD 5,000,000 (approximately ₹47.5 crore)
  • Additional Claims: 18% interest accruing from May 16, 2027
  • Management Assessment: The company's management assesses that this dispute will not have any material financial impact on the company.

Company Representative

The disclosure was signed by Roshni Tandon, Company Secretary & Compliance Officer, on July 08, 2026 at 16:03:02 IST.