Tvs Supply Chain Solutions Limited has informed the Exchange about update on Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
TVSSCS · price
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TVS Supply Chain Solutions has provided an update on a pending dispute with ZTE Telecom India regarding operational dues for services rendered under business arrangements. The company had filed an appeal with the National Company Law Appellate Tribunal (NCLAT). Following settlement negotiations, ZTE Telecom has paid INR 1.62 Crores to the company, and TVS SCS has withdrawn its appeal. The settlement is not considered material to the company's financial position.
The settlement resolves a minor commercial dispute with no material financial impact. The recovery of INR 1.62 Crores is negligible relative to the company's scale, and shareholders need not be concerned as the matter has been amicably concluded.