Singapore Subsidiary Faces Arbitration Order Over Bao Minh Insurance Corporation Project
3i Infotech Asia Pacific Pte Limited, the Singapore subsidiary of 3i Infotech Ltd., has received an arbitration order from the Vietnam International Arbitration Centre (VIAC) concerning the Bao Minh Insurance Corporation Project.The dispute centers on a Software Principal Agreement executed between the Singapore subsidiary and Bao Minh Insurance Corporation. The agreement was for the implementation of the PREMIA 11 insurance system. Bao Minh has initiated the arbitration process, alleging non-delivery of the agreed scope and functionalities, which they claim resulted in project delays and non-performance. As part of the arbitration, Bao Minh has sought a refund of the advance consideration paid under the agreement, along with other reliefs.
The Singapore subsidiary confirmed that although certain business operations were subsequently transferred to Azentio Software Private Limited and other activities were subcontracted to Nityo Infotech, the Singapore subsidiary remains the primary contracting party under the original agreement and is the entity being proceeded against in the arbitration.
In response to the order, the Singapore subsidiary stated that it is currently evaluating available legal remedies. The company plans to dispute the VIAC order, noting that it was passed unilaterally without providing an opportunity of being heard. Furthermore, the subsidiary plans to issue a legal notice to Azentio Software Private Limited seeking indemnification of the claim based on the Business Transfer Agreement.
Details regarding the order and the financial impact are presented below:
| Particulars | Details |
|---|---|
| Authority Passing Order | Vietnam International Arbitration Centre (VIAC) |
| Date of Order | 21.04.2026 (10:54 am) |
| Nature of Violation | Commercial breach |
| Impact on 3i Infotech Limited | None |
| Impact on Singapore Subsidiary | Mounting to VND 301,138,245; plus reimbursement of travel. |
3IINFOLTD Stock Price Movement
Shares of 3i Infotech Limited are edging higher to ₹17.67 as of 11:14 AM today, gaining 0.11% in live trading. The stock is seeing significant activity, with 254,317 shares traded to drive positive momentum in the morning session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.