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    HomeNewsBusinessStocksZenith Infotech defaults on $33mn FCCB payment; stock slips

    Zenith Infotech defaults on $33mn FCCB payment; stock slips

    Zenith Infotech has defaulted on USD 33 million FCCB payments. The FCCB holders were payable on September 21, reports CNBC-TV18, quoting sources. It touched a 52-week low of Rs 93.20. At 10:41 hrs the share was quoting at Rs 93.20, down Rs 10.35, or 10%.

    October 13, 2011 / 11:02 IST

    Zenith Infotech touched a 52-week low of Rs 93.20. At 10:41 hrs the share was quoting at Rs 93.20, down Rs 10.35, or 10%.

    The company has defaulted on USD 33 million FCCB payments. The FCCB holders were payable on September 21, reports CNBC-TV18, quoting sources.

    The company's bondholders may take Zenith to court on default. The bondholders are questioning recent PE investment in Zenith

    first published: Oct 13, 2011 10:43 am

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