Wipro says ESIC withholds dues under contract

panchdeepIT provider Wipro Ltd said Indian government’s Employees’ State Insurance Corporation has withheld payments due to it after the completion of a project, and it will take legal action to recover the amount.

The seven-year contract, named Project Panchdeep, was completed on June 08, 2016, and Wipro provided an additional three months of support.

“Wipro will handover this project close of business hours on September 8, 2016,” the company said.

“ESIC has withheld certain amounts due to Wipro in an ad-hoc and arbitrary manner, which has resulted in a significant delay in Collections for Wipro,” the company said.

“Wipro has disputed this non-payment and is engaged with ESIC to recover the amounts due. If we are not able to resolve this amicably in a reasonable time, Wipro will take all necessary legal steps available to it. Wipro follows a consistent accounting policy; and Over the relevant period these dues are appropriately recorded in financial records.”

Wipro’s role was that of Systems Integrator for the project to set up a healthcare administration program under the Build, Own, Operate and Transfer Model.

This project has helped ESIC digitize and offer real-time healthcare services to over 7.8 crore citizens across 2,200 locations, the company said.


Wipro buys InfoSERVER, a Brazilian IT outsourcing company Weeks after acquiring Appirio, Wipro is at it again. This time, it is buying InfoSERVER, an IT services provider focused on the Brazilian market, for $8.7 Mn (Rs 60 cr). Two-decade old InfoSERVER provides custom application development and software deployment services, th...
Wipro reports poor third-quarter, outlook for 1-2% growth Wipro Ltd has reported poor third quarter results.The highlights are as follows.Gross Revenues were 136.9 billion ($2 billion), an increase of 6.4% YoY.Net Income was 21.1 billion, a decrease of 5.7% year on year.Both numbers are below market expectations. ...
Wipro’s TK Kurien steps down earlier than expected After TCS' Chandrasekaran, it is the turn of Wipro's former CEO and current executive vice chairman TK Kurien to retire. He was expected to step down in March.He will step down at the end of this month, a year after he was moved out of the CEO position.“TK and Abid ha...
Nokia files more patent infringement suits against Apple Nokia has filed further complaints alleging that Apple products infringe a number of Nokia patents, expanding its litigation originally announced on December 21. Across actions in 11 countries, there are now 40 patents in suit, which cover technologies such as display, us...
Allahabad High Court says Triple Talaq ‘unconstitutional’ The Allahabad High Court has today said 'triple talaq' or the divorcing of women under Islamic laws -- is unconstitutional in Indian law.The provision "violates women's rights" and no personal law board is above the Indian constitution, the court said while hearing a peti...
7 ILLOGICAL REASONS to oppose DEMONETIZATION The current demonetization move by the Narendra Modi government has seen a lot of accusations and counter-accusations being levelled by both the supporters and opponents of the move.While the government has tried to deal head on with the official accusations levelled by opp...
Minister refuses to answer Parliament on amendment to anti-corruption bill The ministry of personnel, public grievances and pensions has refused to provide an answer to the Parliament on whether the proposed amendment to the Prevention of Corruption Act will make investigation of corruption charges against officials difficult.The ministry -- whi...
40% of High Court judge positions are vacant, 30% in trial courts A large proportion of the posts for judges in the various High Courts in India are lying vacant, resulting in painfully slow dispensation of justice, according to law ministry numbers.Out of a total of 1079 posts of judges in all the High Courts in India, a whopping 442 are l...
EXCLUSIVE: Reliance Jio resolves interconnect dispute with Bharti Airtel, Idea & Vodafone The interconnection dispute between Reliance Jio and incumbent operators like Idea Cellular, Vodafone and Bharti Airtel has been "largely resolved," an official with one of the incumbent operators said."We have provided enough points to avoid any congestion-related problems i...
Wipro joins the Open Banking bandwagon, releases new platform Wipro Limited launched its offerings that use Open Banking API technological platform.Open Banking platform is a Europe-based standard that lets third party developers build applications and services that tap into a bank's core services and infrastructure.For example, on...
Reliance Jio interconnect dispute with Airtel, Idea to end this month The dispute over providing interconnection facility is set to end in the next two weeks, with Bharti Airtel, Idea Cellular and Vodafone giving in to the demands of new operator Reliance Jio and the regulator.The decision to comply comes in the wake of a recommendation for a f...
RPP Infra Projects wins Rs 254 mln contract from TN Civil Supplies RPP Infra projects Ltd said it received a contract worth Rs 254 mln from Tamil Nadu Civil Supplies Corporation to construct scientific storage godown at Kodavasal village & taluk in Thiruvarur district.The godown is of 2500 MT and is to be completed within 24 months.R...
Interconnect fight with Reliance Jio seems over with Airtel’s latest move Reliance Jio welcomed Bharti Airtel's move to set up 7,007 additional points of interconnection to ease traffic between the two players, even as Airtel promised that it would uphold the law. The moves indicate the end of a bitter battle between the newcomer and India's largest op...
J&K to get new IIM campus with Rs 62 crore investment The Government has approved the establishment of Indian Institute of Management at Jammu in a temporary campus at Old Government College of Engineering & Technology from the Academic Year 2016-17.The project will involve a cost of Rs 62 crore in temporary campus for the i...
Cauvery Dispute: Centre constitutes high level technical team Govt of India has constituted a high level technical team to visit the Cauvery basin area on the 7th of this month to assess the ground realities in the basin.The team will meet at Bengaluru for a preparatory meeting and subsequent visit to the Cauvery basin area for assessin...
Premier Explosives secures Rs 27 crore order from Bharat Dynamics Limited Premier Explosives, a Hyderabad based commercial explosives manufacturer, said it has won a Rs 27.7 crore order from Bharat Dynamics Limited for the supply of booster grains.The order will be delivered by end of June next year, said the company.Booster grains are used as ...
Canara Bank chosen partner for India’s Higher Education Financing Agency Canara bank said it has been chosen as the joint venture partner by the government of India for the establishment of a Higher Education Financing Agency.The Higher Education Financing Agency or HEFA is a not-for-profit agency with initial capital base of Rs. 1000 Crore and w...
Government comes up with amended anti HIV discrimination bill The government is likely to come with an amended HIV and AIDS (Prevention and Control) Bill, 2014, which was approved by the cabinet today.The HIV and AIDS Bill has been drafted to safeguard the rights of people living with HIV and affected by HIV.The provisions of the Bi...
Govt launches central monitoring of all bridges in India To ensure the safety of bridges in the country Road Transport & Highways and Shipping Ministry launched the Indian Bridge Management System.IBMS is developed to create an inventory of all bridges in the country and rate their structural condition so that timely repair an...
Sports given infrastructure status in India The Ministry of Finance said sports infrastructure will be included under the harmonized master list of infrastructure subsectors, easing the flow of investments and incentives to the sector.The decision was taken after a series of meetings and discussions with different agen...
Government invests Rs 508 cr in Corporation Bank Government of India invested Rs 508 cr into Corporation Bank, raising its stake from 67.2% to 70.76%.The investment came in the form of fresh purchase of equity at a price of Rs 40.78 per share.The shares are currently trading at Rs 44.70. They rose by 3% today on the NSE...
Reliance Jio refutes Bharti Airtel’s statement about its ‘unpreparedness’ Reliance Jio Infocomm refuted Bharti Airtel's claim that the current call drop situation was the result of underpreparedness by the new telecom operator, and alleged that it is the result of anti-competitive strategies by the incumbent operator."RJIL denies that there has bee...
HUDCO raises Rs 1300 cr through private placement of bonds Housing & Urban Development Corporation Ltd., a wholly owned Govt. of India enterprise, said it raised a sum of Rs 1300 crore through debt.The amount was raised through placement issues of unsecured, redeemable and non-convertible bonds.While the issue of Rs 700 crore...
India signs 15 year contract for exploration of gold and platinum in the Indian Ocean Government of India has signed a 15-year contract with the International Seabed Authority (ISA) for the exploration of Poly-Metallic Sulphides deposits, which constitutes of gold, platinum, iron, copper, zinc and silver, in the Indian Ocean, said the Ministry of Earth Sciences. ...
Uttam Sugar Mills gets acknowledgement for doubling of ethanol capacity Uttam Sugar Mills Ltd informed that it obtained acknowledgement from the government of India after doubling its Ethanol distillery capacity.The company, engaged in production of sugar, Ethanol and power generation, said it has doubled its existing ethanol capacity is 22,500 K...