NSE/BSE Codes: NSE Symbol: TVSSCS, Scrip Code: 543965
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure of pending litigation initiated by the company under Regulation 30 of SEBI (Listing Regulations and Disclosure Requirements) Regulations, 2015, specifically pursuant to Schedule III Para-B (8).
Involved Parties / Authorities:
- Opposing Party: Tera Software Limited (Tera Soft)
- Adjudicating Authority: Hon'ble High Court of Telangana
- Regulatory Reference: Master Circular No HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Date / Timeline of Event:
- Disclosure Date: June 30, 2026
- Service Agreement Date: June 19, 2019
- Current Status: TVS SCS proposes to approach the High Court for appointment of a Sole Arbitrator
Brief Description of Outcome / Dispute:
TVS SCS has invoked arbitration under the Service Agreement dated June 19, 2019, in connection with one of the projects, seeking recovery of outstanding dues. The dispute arises from the alleged failure of Tera Soft to pay the outstanding amount, despite TVS SCS having completed its contractual obligations.
Impact of Outcome:
Financial Impact:
- TVS SCS is seeking recovery of ₹3.69 crore (approximately) from Tera Software Limited
- The amount represents outstanding dues for services rendered under the Service Agreement
Quantum of Claims:
- Total claim amount: ₹3.69 crore (approximately)
Next Steps / Required Actions:
- TVS SCS will approach the Hon'ble High Court of Telangana under Section 11 of the Arbitration and Conciliation Act, 1996
- The company seeks appointment of a Sole Arbitrator to resolve the dispute
- Arbitration proceedings will be formally initiated upon court appointment