Aditya Infotech Limited Faces $5 Million Arbitration Claim from Avathon and SparkCognition Before ICC:

Aditya Infotech Limited has disclosed to the stock exchanges that it has been informed by the lawyers of Avathon, Inc., and SparkCognition India Private Limited that they have furnished an arbitration request dated May 28, 2026, before the International Chamber of Commerce (ICC), New York, USA, for starting arbitration proceedings against them. As per the sources, Avathon, Inc. is an entity based in Austin, Texas, while SparkCognition India Private Limited is based in Bengaluru.

According to the company, the dispute relates to an agreement entered into between Aditya Infotech and Avathon/SparkCognition, under which the company had proposed to purchase and resell certain products of Avathon and SparkCognition. The two entities have alleged a breach of contract by Aditya Infotech and have initiated arbitration proceedings to resolve the matter.

The arbitration has been filed before the ICC, as it involves a cross-border dispute. The company stated that the disclosure was made with a slight delay due to necessary coordination with its legal advisors.

Also Read

MCA Extends Validity of CCFS-2026 Till August 31, 2026; Companies Get More Time for Pending Statutory Filings

As per the details shared by Aditya Infotech, Avathon and SparkCognition have claimed USD 5 million (about Rs 47.5 crore in Indian currency) along with interest at the rate of 18%. The interest is claimed on the alleged dues accruing from May 16, 2027.

However, the company’s management has assessed that the dispute is not expected to have any material financial impact on Aditya Infotech. It has also been stated that the relevant disclosure has been hosted on its official website for shareholders and stakeholders. The company will continue to take necessary steps in relation to the arbitration proceedings.

Aditya Infotech Limited has made the aforementioned disclosure in pursuance of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, through an Intimation dated July 08, 2026. The intimation has been addressed to the National Stock Exchange of India (NSE) and Bombay Stock Exchange Limited (BSE).