Paramatrix Technologies reached a settlement with Finnovus Technologies for Rs. 47 Lakhs, following mediation over outstanding dues. The payment, to be received in five installments, significantly enhances Paramatrix’s liquidity and supports ongoing business operations. This development uplifts the company’s financial health post-mediation agreement.
In continuation of its July 2025 mediation disclosure, Paramatrix Technologies Ltd. has announced a favorable settlement in its dispute with Finnovus Technologies Private Limited concerning recovery of dues amounting to Rs. 62.74 Lakhs for services rendered. After multiple rounds of pre-mediation, both parties signed a Pre-Mediation Agreement under Section 12A of the Commercial Courts Act, 2015, before the Hon’ble Court at Belapur.
Finnovus Technologies agreed to a final settlement of Rs. 47 Lakhs, payable in five installments, marking a successful resolution and partial recovery of the outstanding amount. This settlement is expected to have a positive financial impact on Paramatrix by enhancing its liquidity position and providing crucial funds to support day-to-day operations.
With no litigation involving key management or promoters, the company reinforces its commitment to amicable dispute resolution through mediation, ensuring business continuity and financial stability.
Important points to note:
-
Mediation application filed for recovery of Rs. 62.74 Lakhs outstanding dues.
-
Pre-Mediation Agreement signed under the Commercial Courts Act, 2015.
-
Finnovus to pay Rs. 47 Lakhs in five installments as full and final settlement.
-
Settlement will improve Paramatrix’s liquidity and financial health.
-
No litigation against key management or promoters reported.
This update provides clarity on dues recovery and demonstrates Paramatrix’s strategic approach to dispute resolution and financial management.
Sources: Paramatrix Technologies Ltd. official communication via Regulatory filings.