Modulus USA alleges infringement of copyright of software
Financial Technologies (India) announced that the Company has received copy of Notice of Motion and Suit filed by Modulus Financial Engineering Inc, USA (Modulus) at the Hon'ble High Court, Bombay, alleging infringement of Copyright of software with reference to the license Agreements entered into with them since 2008.The Company denies any such infringement as alleged and is taking appropriate measures in consultation with the legal Counsel of the Company. The Company believes that the impact of the suit is currently not readily ascertainable.
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