Sasken to pay $1.15 mn fine to 3g.com

Bangalore-based Sasken Communication Technologies has lost a case to 3g.com in an international arbitration court, and has been asked to pay $1.15 million as damages for failing to supply products under the terms of a contract between them.

According to a release issued by Sasken to the stock exchanges on Friday, "The company, which lost the case against 3g.com in the London Court of International Arbitration, would have to pay $173,760 as legal and other costs."

The company would also have to bear the total cost of arbitration amounting to pound 168,150.57 as directed by the court.

The further course of action in the matter, including filing of appeal in the appropriate courts, would be decided later, the release added.