Silverline Technologies completes one time settlement with NCD holders

Silverline Technologies Ltd has announced the One time Settlement which has been worked out by the Restructuring Advisors M/s. Firstcall India Equity Advisors Pvt Ltd has been successfully completed with the Non convertible Debenture Holders (NCD holders) i.e. Institutions and Banks. With the above settlement and recent growth strategy planned, the Company is very confident of a strong growth in the coming years.

The promoters of the Company have also decided to increase their stake in the Company through creeping acquisition route.

The Company has recently forged a strategic relationship with a leading Canadian firm and has initiated the launch of its Infrastructure Technology outsourcing (ITO) practice.

With the turnaround from FY 05-06 the Company is expanding its IT consulting practice as well lays the foundation for its technical support practice, the Company will strive not only to deliver on this initiative but also grow this practice across new and emerging markets.

The Company continues to be committed to deliver value to its Clients, Employees & Shareholders.

Source : Equity Bulls

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