The Investor Sentiment - Equity and investments forum for Sri Lankans



Join the forum, it's quick and easy

The Investor Sentiment - Equity and investments forum for Sri Lankans

The Investor Sentiment - Equity and investments forum for Sri Lankans

Would you like to react to this message? Create an account in a few clicks or log in to continue.
The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting

Latest topics

» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
SLT, Just In Time settle Rs. 673 m case out of court EmptyFri Jul 19, 2024 10:30 am by faithhharris

» CCS.N0000 ( Ceylon Cold Stores)
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
SLT, Just In Time settle Rs. 673 m case out of court EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
SLT, Just In Time settle Rs. 673 m case out of court EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
SLT, Just In Time settle Rs. 673 m case out of court EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
SLT, Just In Time settle Rs. 673 m case out of court EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
SLT, Just In Time settle Rs. 673 m case out of court EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
SLT, Just In Time settle Rs. 673 m case out of court EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
SLT, Just In Time settle Rs. 673 m case out of court EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
SLT, Just In Time settle Rs. 673 m case out of court EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
SLT, Just In Time settle Rs. 673 m case out of court EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
SLT, Just In Time settle Rs. 673 m case out of court EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
SLT, Just In Time settle Rs. 673 m case out of court EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
SLT, Just In Time settle Rs. 673 m case out of court EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
SLT, Just In Time settle Rs. 673 m case out of court EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
SLT, Just In Time settle Rs. 673 m case out of court EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
SLT, Just In Time settle Rs. 673 m case out of court EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
SLT, Just In Time settle Rs. 673 m case out of court EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
SLT, Just In Time settle Rs. 673 m case out of court EmptyThu Mar 02, 2023 10:22 am by කිත්සිරි ද සිල්වා

» Re-activating
SLT, Just In Time settle Rs. 673 m case out of court EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
SLT, Just In Time settle Rs. 673 m case out of court EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
SLT, Just In Time settle Rs. 673 m case out of court EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
SLT, Just In Time settle Rs. 673 m case out of court EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
SLT, Just In Time settle Rs. 673 m case out of court EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
SLT, Just In Time settle Rs. 673 m case out of court EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
SLT, Just In Time settle Rs. 673 m case out of court EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
SLT, Just In Time settle Rs. 673 m case out of court EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
SLT, Just In Time settle Rs. 673 m case out of court EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
SLT, Just In Time settle Rs. 673 m case out of court EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
SLT, Just In Time settle Rs. 673 m case out of court EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
SLT, Just In Time settle Rs. 673 m case out of court EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

    SLT, Just In Time settle Rs. 673 m case out of court

    First Guy
    First Guy


    Posts : 2599
    Join date : 2014-02-22

    SLT, Just In Time settle Rs. 673 m case out of court Empty SLT, Just In Time settle Rs. 673 m case out of court

    Post by First Guy Wed Apr 16, 2014 10:38 pm

    National telecom giant to pay Rs. 502 m immediately as part of settlement to JIT and balance Rs. 171 m interests in six equal instalments
    JIT won arbitration award in 2012 over the supply of IPTV system for broadband services in 2007/8 before SLT appealed in Commercial High Court


    Sri Lanka Telecom Plc (SLT) and Just In Time Holdings Ltd. have come to an understanding to settle a long-drawn dispute out of court, with the former agreeing to pay the latter Rs. 673.3 million.

    SLT said that as part of the settlement it will pay Rs. 502.17 million as balance payments to JIT and legal cost. The interest claimed amounting to Rs. 171 million will be paid in six equal instalments.

    The out of court settlement follows JIT originally claiming $ 4.74 million as payments due from SLT under the contract with damages over the supply of IPTV system for broadband services in 2007/8.

    Arbitration proceedings were concluded and award was delivered in favour of JIT on 30 March 2012 with damages, costs and legal interest.
    Based on legal advice that it has sufficient and substantial legal grounds to challenge the arbitral award including damages, costs and legal interest under the award, SLT Plc filed an appeal in Commercial High Court. JIT too filed an application in Commercial High Court to enforce the award of arbitration given in favour of JIT at the conclusion of the arbitration between JIT and SLT in terms of Section 31 of Arbitration Act.

    Separately JIT has also initiated arbitration claiming arrears under agreement between JITHPL and SLT to provide WAN connection to NSB. SLT has a back-to-back agreement with NSB and NSB has failed to make payments under the agreement.

    SLT terminated the agreements with JIT in November 2011, upon termination of the SLT agreement with NSB. JIT is claiming Rs. 34 million as moneys for the period up to termination, Rs. 10 million as interest and Rs. 13 million as rentals up to unexpired period of the case. Hearing of this case is scheduled for 6 May 2014.

    The two cases involving JIT are among nine litigations over which SLT hasn’t made provisions in its accounts pending the outcome of the appeals and hearings.
    In 2013, SLT Group increased its revenue by 6% to Rs. 60 billion whilst operating profit rose by 7% to Rs. 6.5 billion. Pre-tax profit increased by 26% to Rs. 7.36 billion and after-tax profit by 38% to Rs. 5.4 billion.

    http://www.ft.lk/2014/04/16/slt-just-in-time-settle-rs-673-m-case-out-of-court/
    First Guy
    First Guy


    Posts : 2599
    Join date : 2014-02-22

    SLT, Just In Time settle Rs. 673 m case out of court Empty Re: SLT, Just In Time settle Rs. 673 m case out of court

    Post by First Guy Wed Apr 16, 2014 10:38 pm

    negligible amount for SLT?

      Current date/time is Mon Oct 07, 2024 4:00 pm