Span Divergent receives adverse arbitration award of ₹24.55 Lakhs

Span Divergent Ltd. has disclosed receipt of an adverse arbitration award amounting to INR 24,55,614, plus 12% simple interest per annum from August 9, 2019, to July 2, 2026. The award was issued by The Gujarat High Court Arbitration Centre in a matter related to an employment agreement. The company acknowledges a delay in its disclosure of this award, attributing it to an internal compliance review. Span Divergent is currently seeking legal advice to explore available remedies and plans to challenge the award, indicating it has not yet attained finality. The ultimate financial impact remains uncertain pending the outcome of further legal proceedings. The company has also stated that its internal compliance mechanisms have been strengthened to prevent future disclosure lapses.