Announced Mon, 6 Jul · 17:17 IST
Adverse arbitration award of Rs 24.55 lakh plus interest received against company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-4.0%1-day move
₹40.02
prior close
₹38.02
base price
After-mkt
timing
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————-4.0-9.4-4.8-7.6-8.8-7.5————
Up moveDown movePending
AI summary
Span Divergent received an adverse arbitration award of Rs 24,55,614 plus 12 percent simple interest per annum from 9 August 2019 to 2 July 2026 from the Gujarat High Court Arbitration Centre. The award relates to a dispute over an employment agreement with Mr Pareshkumar Prabhudas Patel. The company plans to challenge the award in court and says it has not attained finality. The disclosure was delayed and is being made now after an internal compliance review.
Likely market impact
Negative - potential liability of about Rs 24.55 lakh plus interest. Company plans to challenge the award. Delayed disclosure raises governance concerns.