Sterlite Tech to pay Rs 4 cr to Data Management Centre for settling dispute

Broadband technology firm Sterlite Technologies has agreed to pay $467,400 (about Rs 4 crore) to the Data Management Centre for dispute settlement, a regulatory filing said on Monday.

Data Management Centre had claimed damages worth $2.7 million (about Rs 23 crore) before Singapore International Arbitration Centre against Sterlite Technologies (STL) for delay and failure by the broadband technology to meet obligations under their agreement.