Corporate News 23-Mar-15
NIIT Technologies updates on dispute between its subsidiary & client
Makes provision towards unbilled revenue in current quarter
NIIT Technologies announced that a dispute has arisen between one of the Company's subsidiaries & its client in the APAC region, which may result in claims & counter claims. The Company is exploring various options to resolve the dispute. In line with the Company's accounting policy, the Company shall be providing up to a value of US $ 10mn., towards unbilled revenue, during the current quarter.
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