Final Award received in lease arbitration; passed in favour of Respondent for INR ~ 8.26 crore

Final Award received in lease arbitration.

Fri 2 Oct 2026

Arbitral Award Amount

INR ~ 8.26 crore plus interest and costs

Estimated Net Incremental Cost Impact

not expected to exceed INR 6.3 Crore

Award Date

Sep 30, 2026

Award Ruling

in favour of Respondent Ruby Infotech and against the company

Next Step

evaluating remedies

What was disclosed

The company informed the exchanges that it was served with a Final Award on October 01, 2026 in arbitration proceedings. The award is dated September 30, 2026.

The dispute

• The company had taken a property on lease for its operational requirements.
• It terminated the Lease Deed during the lock-in period due to certain infrastructural issues and safety issues relating to the leased premises.
• Disputes arose between the parties and were referred to arbitration before a Sole Arbitrator at the Delhi International Arbitration Centre (DIAC).

The award

• The award was passed in favour of the Respondent, Ruby Infotech Private Limited, and against the company.
• It determines an amount of INR ~ 8.26 crore, along with applicable interest and costs.
• The company also describes the awarded amount as ~ INR 8.26 crores along with interest and costs.
• The company says the Arbitral Award involves INR ~ 8.26 crore, along with applicable interest and costs.

Expected financial impact

• The company had already written off fit-outs in its books.
• If the award is conclusively determined against the company, the total net incremental cost impact on the company is not anticipated to exceed INR 6.3 Crore (including applicable interest).

Next steps

• The company says, in consultation with its legal counsel, it is evaluating the available remedies to challenge the Award, including in view of certain discrepancies apparent on the face of the record.
• It will take necessary actions in accordance with applicable law.

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