08-Jul-2026 16:23:01

CPPLUSGeneral news

ADITYA INFOTECH LTD. : ARBITRATION PROCEEDINGS INITIATED BY AVATHON, INC. AND SPARKCOGNITION INDIA PVT. LTD.

• The company has been informed by Avathon, Inc. and SparkCognition India Private Limited that they have submitted a Request for Arbitration dated May 28, 2026, before the International Chamber of Commerce (ICC). • The dispute arises from an agreement for the company to purchase and resell certain products of Avathon/SparkCognition. • The opposing parties have claimed an amount of USD 5,000,000 (approx. INR 47,50,00,000) plus interest at 18% from May 16, 2027. • The company's management assesses that this dispute will not have any material financial impact. Impact: Neutral (The company is involved in an international arbitration case with a claim of USD 5 million, but management believes there will be no material financial impact.)

Aditya Infotech Limited

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