Coforge Ltd.

NIIT Technologies’ subsidiary and its client in the APAC region have locked horns and a dispute has arisen between them 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 $10 million, towards unbilled revenue, during the current quarter.

NIIT Technologies is a leading IT solutions organization, servicing customers in North America, Europe, Middle East, Asia and Australia. It offers services in application development and maintenance, managed services, IP Asset or platform solutions, and business process outsourcing to organizations in the financial services, travel & transportation, manufacturing/distribution, healthcare and government sectors.