Zenith Infotech moves SC against winding-up order

NEW DELHI  : Zenith Infotech Ltd, which moved the Supreme Court challenging Bombay High Court’s winding-up order, assured the apex court of informing it about a debt repayment plant on Monday.
A bench headed by Justice R.M. Lodha told the counsel for Zenith Infotech that the company would have to establish its credentials to support its case for stay on the winding up order of the Bombay High Court.
Zenith Infotech informed the court that its total liability stood at 5.63 bln rupees and that the company had proposed to pay 250 mln rupees upfront and the rest in instalments in two to three years. The bench, however, suggested that the company pays 500 mln rupees upfront and then 500 mln rupees every month. Zenith Infotech’s counsel said he would inform the court about its plan on
Monday.         — Cogencis