Legal5 Mar 2026, 04:12 pm
Walchandnagar Industries Resolves Dispute with Aicitta Intelligent Technology, to Recover Rs. 2,12,41,096
AI Summary
Walchandnagar Industries Ltd. has announced that it has resolved its disputes with Aicitta Intelligent Technology Private Limited and its promoters, Arjun Das and Vikram Sarin. The parties have signed Consent Terms dated 4% March, 2026, following which the Company will not be participating in the said project. As part of the settlement, Walchandnagar Industries will recover a sum of Rs. 2,12,41,096 from Aicitta in instalments towards the refund of ICD arranged for Aicitta and legal & other expenses incurred by WIL for this project.
Key Highlights
- Walchandnagar Industries has resolved its disputes with Aicitta Intelligent Technology
- The parties have signed Consent Terms dated 4% March, 2026
- The Company will not be participating in the said project going forward
- Walchandnagar Industries will recover a sum of Rs. 2,12,41,096 from Aicitta
- The settlement includes the refund of ICD arranged for Aicitta and legal & other expenses incurred by WIL for this project