Financial Daily
from THE HINDU group of publications
Tuesday, July 11, 2000
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Financial Daily from THE HINDU group of publications Tuesday, July 11, 2000 |
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VisualSoft: Paying up to settle dispute
A SIZABLE one-time charge on its earnings in the first quarter for 2000-2001 may lead to price weakness in the VisualSoft stock price in the short-term.
The company has settled its dispute with Danlaw Inc of the US by paying a sum of Rs. 2.75 crores. It had entered into an agreement with Danlaw Inc for services such as testing for which the latter was entitled to 22.5 per cent of receipts. The compromise
settlement lays to rest differences over the terms and conditions of this agreement. VisualSoft is to provide for this liability of Rs. 2.75 crores in its accounts for the quarter ended June 30, 2000. This development may lead to weak trends in the stoc
k price in the short-term. - BL Research Bureau
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Related links: VisualSoft to pay US firm Rs. 2.75 cr Comment on this article to BLFeedback@thehindu.co.in Send this article to Friends by E-Mail
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