Legal30 Jun 2026, 08:41 pm
TVS Supply Chain to seek ₹3.69 Cr arbitration from Tera Soft
AI Summary
TVS Supply Chain Solutions Ltd (TVS SCS) has initiated legal proceedings by invoking arbitration against Tera Software Limited (Tera Soft). The dispute centers around outstanding dues of approximately ₹3.69 crore related to a project under a Service Agreement dated June 19, 2019. TVS SCS claims it has fulfilled its contractual obligations, but Tera Soft has allegedly failed to make the payment. TVS SCS plans to approach the Hon'ble High Court of Telangana under Section 11 of the Arbitration and Conciliation Act, 1996, for the appointment of a Sole Arbitrator to resolve the matter and recover the dues.
Key Highlights
- TVS SCS initiates arbitration against Tera Soft for ₹3.69 crore outstanding dues.
- Dispute arises from alleged non-payment despite completed contractual obligations.
- Company seeks appointment of a Sole Arbitrator via High Court of Telangana.
- Arbitration invoked under Service Agreement dated June 19, 2019.
Price Impact
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