NSE/BSE Codes: NSE: INSPIRISYS, BSE: 532774

Summary of Key Information:

Nature of Event / Disclosure:

Disclosure of amicable resolution and settlement of a material litigation matter with Kerala Medical Services Corporation Limited (KMSCL) through mediation, as required under Regulation 30 of SEBI (LODR) Regulations, 2015.

Involved Parties / Authorities:

  • Inspirisys Solutions Limited (Company)
  • Kerala Medical Services Corporation Limited (KMSCL)
  • Hon'ble High Court of Kerala at Ernakulam
  • Company's Advocate

Date / Timeline of Event:

  • Original contract awarded: 2011
  • Previous intimation of pending litigation: August 14, 2023 (Ref. No. ISL/SS/SE/32/2023-2024)
  • Mediation settlement agreement submitted to court: April 10, 2026
  • Court order passed: April 10, 2026
  • Certified copy of order received: June 03, 2026 at 10:36 A.M. (IST)
  • Company disclosure dated: June 03, 2026

Brief Description of Outcome / Dispute:

The dispute arose from services rendered by Inspirisys to KMSCL pursuant to a tender awarded in 2011. The disputes were subsequently referred to arbitration and then to mediation proceedings. The matter has been amicably resolved through mediation, with a settlement reached between the parties on April 10, 2026. The Hon'ble High Court of Kerala at Ernakulam passed its order on the same date, disposing of the matter based on the settlement.

Impact of Outcome:

Financial Impact:
  • The original demand of ₹75.89 lakhs raised against the company stands fully resolved and disposed of.
  • The company had previously paid an amount of ₹7,68,300 towards a Bank Guarantee as part of the mediation proceedings.
  • As per the settlement terms, all claims and counterclaims of the parties, including the ₹7,68,300 payment, have been mutually waived and fully and finally settled.
  • No additional financial liability or penalty remains outstanding from this dispute.
Operational / Business / Strategic Impact:

The resolution eliminates ongoing legal proceedings and associated management attention requirements. The amicable settlement preserves business relationships and avoids potential reputational damage from prolonged litigation.

Other Implications:

The settlement represents compliance with SEBI circular requirements for disclosure of material litigation developments and demonstrates the company's approach to resolving disputes through mediation rather than prolonged court battles.

Next Steps / Required Actions:

No further actions are required as the matter has been fully and finally settled and disposed of by the Hon'ble High Court of Kerala. The case is closed.