  Huawei Technologies has sent a legal notice to the Videocon Group for non-payment of dues of about Rs 860 crore. It has also suspended service support to Videocon’s telecom unit, according to Economic Times.
According to the report, the dues are related to Videocon's purchase of 2G network gear from the Chinese vendor in July 2009 and subsequent delivery of project services. A top executive, who did not want to be named, told ET, "Videocon has not paid 85% of the equipment contract, amounting to $144 million." |