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TERA SOFTWARE LTD. - Intimation Of Termination Of AP BBNL Project By APSFL
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13 Nov 2020
The Company has filed a Writ petition in the Honourable high court of Andhra Pradesh seeking for direction of clearing the overdue payments to a tune of 150 Crore from AP State Fibernet Ltd (APSFL). Honourable high court has passed the orders to the advantage of the company. To circumvent this, APSFL has given termination notice to the company w..r.t the projects of Bharat-Net Phase - II and the project of Operation and Maintenance of AP Fiber Grid Phase-1 allotted to the company and the same being terminated. Termination of the existing contracts was illegal and the Company has preferred a writ petition against the said termination. The case is pending with an interim order not to allot the work to any other party and pending for hearing and waiting for the suitable final judgement.&lt;BR&gt;
View all announcements for TERA SOFTWARE LTD. Source: BSE India