VARINDIA IT MAGAZINE

According to the latest reports, Avaya India has moved the National Company Law Tribunal (NCLT) against Reliance Communications (Rcom) to recover Rs.7.5 crore.  “Rcom has not paid dues for call centre services from January to September 2017,” said Avaya legal counsel Abhishek Adke. The tribunal has asked Rcom to file its response in the next ten days. The matter is listed for March 23.... Read More

Fourth Dimension Solutions, a Delhi based IT solutions and turnkey service firm has approached the National Company Law Tribunal (NCLT) asking to initiate insolvency process against Ricoh India, the Japanese firm's Indian arm. Fourth Dimension Solutions (FDS) has filed the petition before the Mumbai Bench of NCLT under the Insolvency and Bankruptcy Code, 2016 citing non payment of dues of more than Rs 428 crore. While Ricoh India is listed in BSE, Fourth Dimension is listed in NSE. Both the firms have informed their respective bourses about the development.  "Fourth Dimension Solutions Limited (FDS) has filed a petition against Ricoh India Limited before the Hon'ble National Company Law Tribunal, Mumbai regarding the alleged non-payment of a disputed debit note which FDS unilaterally raised as alleged damages for a contract termination," Ricoh said this in a BSE filing.  "We do not agree with the claims made by FDS and are pursuing the matter through ...

According to news report, National Company Law Tribunal (NCLT) has given a nod for merger between Bharti Airtel and Telenor. NCLT has directed both the companies to hold a meeting of equity shareholders and unsecured creditors. In June, Bharti Airtel has already received a clBharti Airtelearance from the Competition Commission of India (CCI), Securities & Exchange Board of India (Sebi), BSE and the National Stock Exchange of India. With this acquisition, Bharti Airtel will be strengthening its 4G spectrum holdings and revenue share. After the closure of the deal, Airtel will get hold of Telenor’s 43.4 units of 4G spectrum in 1,800 MHz band which will help the company to reinforce its position in the battle with Reliance Jio Infocomm.... Read More