June 17 2016, 23.26 PM IST || Pocket News Alert
Mumbai — Rolta India Limited (Rolta), a leading provider of innovative IP-led IT solutions for many vertical segments, including Defense and Security, today released the following update on its obligations towards interest payment of Bonds / ECB installment.
Rolta has had to continue incurring significant expenses on a very prestigious and time bound defense project, which requires considerable ongoing investment; while at the same time the Company has suffered unexpected delays in large payment collections; thereby facing working capital stress over the past few months. As a result, Rolta has been unable to meet its recent obligations towards interest payment on Bonds / ECB installment.
Rolta management is diligently working on addressing the overall situation in a comprehensive manner in consultation with its bankers and strategic advisors. The aim is to arrive at an acceptable solution in the interest of all stakeholders and the Company will be informing all stakeholders at the earliest possible opportunity and is committed to finding a viable resolution.
About Rolto: Rolto is o leading provider of innovative IP-led IT solutions for many vertical segments, including Federal and Stote Governments, Utilities, Oil & Gas, Petrochemicols, Financial Services, Manufacturing, Retail, and Heolthcore. Rolta is recognized for its extensive portfolio of solutions based on field-proven Rolto IP tailored for Indian Defense and Homeland Security. By uniquely combining its expertise in the IT, Engineering and Geospatial domains, Rolto develops State-of-the-Art Digital Solutions incorporating rich Rolto lP in the areas of Cloud, Mobility, loT, B! ond Big Dota Analytics. Rolta is a multinational organizotion headquartered in India and the Company's shores have been publicly traded for more than 25 years in India. Rolta GORs ore listed on the London Stock Exchange for 10+ years.