 "ICICI Bank to discontinue some service pacts with 3i Infotech")
Information Techn services provider 3i Infotech on Tuesday said that ICICI Bank intends to discontinue some of the service contracts with the company and its group firms, effective from July 31, 2016.
"The Company has received letter dated July 26, 2016 from ICICI Bank Limited informing the company that ICICI Bank would like to discontinue some of the service contracts with the company and its group companies effective July 31, 2016," 3i Infotech said in a filing to the BSE.
The company further said it will take all necessary steps to ensure that discontinuation of the said contracts by ICICI Bank does not have any material impact on the business operations and profitability of the company.
Shares of the company on Tuesday fell by 1.31 per cent to close at Rs 5.28 on the BSE.