Nortel owes over $10m to Indian IT companies. TCS, Wipro, Infosys, Sasken may feel the heat as Nortel files for bankruptcy protection.
Nortel Networks, the Canadian telecom equipment maker which filed for bankruptcy protection on Wednesday, owes $9 million to Indian IT
companies such as Wipro ($3.1 million), Infosys and TCS (both $2.9 million) as per court filings.
Additionally, Nortel, which is amongst the top 3 clients for tier-II software services firm-Sasken Communication, is said to owe an undisclosed amount to Sasken too.
Put together, this could amount to over $10 million as trade receivables.
Friday, January 16, 2009
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