i-flex reaches settlement with Saraswat Bank

 As a result of this settlement, entered into over the weekend, all arbitration charges against the company have been dropped, an i-flex spokesperson said.

 However, the company refused to spell out the financial implications of the settlement. Saraswat Bank too declined to comment, citing confidentiality.

 In 2002 Saraswat Bank had served i-flex solutions a legal notice for termination of the contract entered for deployment of the company