In a statement accompanying its results, the company has revealed that it has filed action against Electrotek Network Services to recover 69.3 million rupees for telecommunication services rendered by the company but had been counter-sued for over four billion rupees.
Suntel is a privately owned telecom operator, whose medium term debentures are listed on the Colombo Stock Exchange, that is the subject of a takeover battle between local and foreign firms.
The company said in its action against Electrotek Network Services, the defendant had filed an answered denying the company’s claim and made a counter claim on account of wrongful termination of telephone services.
The basis on which the 4,180 million rupee counter-claim has been computed is not stated in the answer, it said.
Suntel said the case has been fixed for trial.
Suntel’s audited 2006 net profit was 1,049 million rupees up