CHENNAI, India, 16 October 2010/PRNewswire-FirstCall / - Sify Technologies Limited (NASDAQ Global markets: SIFY) announced today that it not audited financial statements for its fiscal year 31 March 2010 to this time because of incomplete audit results from MF Global Sify securities India private limited ("MF Global Sify securities") file. Sify has a 29.85% minority interest in MF Global Sify securities.MF Global Sify securities provides intermediary and also online and offline equity and derivatives matching principal Vermittlungsdienste.Es for retail customers as trade execution and clearing services for financial institutions. MF Global Holdings Ltd. holds interest the remaining 70,15% through a subsidiary, in the company.
Sify certain recorded cross charges of corporate expenses made by MF Global Holdings Ltd. and its affiliated companies, to MF Global Sify securities has denied and believes the charges and various related actions, violated a shareholders agreement of the parties. As a result of the ongoing dispute has MF Global Sify securities Sify advised that your auditors not qualified report on his March 31, 2010 to issue financial statements.
Sify's interest in MF Global Sify securities accounts for a pro-rata part for the international financial reporting standards equity method of accounting under which Sify in General as "Share of profit of equity accounted investee" reportable net profit after tax of such undertakings in their statement of Vorgänge.Sify's auditors audit no consolidated MF Global based Sify securities and its opinion as you relates to the amounts that in Sify's for MF Global financial statements contain Sify securities exclusively on the report of MF Global Sify securities can Rechnungsprüfer.Infolgedessen no Sify's auditors issue an unqualified report at this time.
Sify is in discussions to resolve this issue searches Holdings Ltd, with MF Global and intends its annual report on form 20-F for fiscal year 31 March 2010, file, as soon as practicable. Sify reported unaudited financial results for the fiscal year 31 ended April March 2010 in a press release, 23, 2010 dated.
About Sify technologies
Sify is one of the largest managed enterprise and consumer Internet services company in India, end-to-end solutions with a comprehensive range of products, which on a joint Telecom data network infrastructure reach more than 600 cities and towns in India delivered.
A significant portion of the company's revenues come from corporate services, corporate connectivity, network and communication, security, network management services, enterprise applications, and hosting. Sify is a recognized ISO 9001 certified service provider for network operations, data center operations and customer support, and for deploying VPNs, Internet bandwidth, VoIP solutions and integrated security solutions and ISO / IEC 20000-1: 2005 certified Internet data center operations. Sify has licenses for the operation of NLD (national long distance) and ILD (international long distance) services and VoIP back haul to long distance telephony services subscribers.The company is India's first enterprise managed services provider, Sify's corporate services use a security operations center (SOC) to provide managed security services to starten.Eine variety of blue chip clients.
Sify also suitable for global markets specialized eLearning services and remote infrastructure management services.The e-learning services designs, develops and delivers State-of-the-art digital learning solutions for non-profit, for profit organizations and government organizations in the areas of computer science, engineering, environment, health, education and finance.Remote infrastructure management services offers reliable and economic solutions for managed services, hosting and monitoring.
Consumer services include home access and the ePort cyber café chain of more than 200 cities and towns in India.Sify.com, popular consumer portal has channels on news, entertainment, finance, sports, games and shop.Samachar.com is the popular portal aimed at non-resident Indians around the globe.The site is in 8 Indian languages including Hindi, Malayalam, Tamil, Telugu, Kannada, Punjabi and Gujarati in addition to English.
Visit for more information about Sify http://www.sifycorp.com.
Forward looking statements
Sify: This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934 forward-looking statements contained in the amended Fassung.Die herein are subject to risks and uncertainties that could cause actual results to differ materially from the forward-looking statements to reflect. Sify assumes no obligation to update forward-looking statements.
For a discussion of the risks associated with Sify's business discussion under the heading "Risk factors" in the society report on form 6 K for the quarter see please, the end of September 30, 2009, which has been filed with the U.s. Securities and Exchange Commission and managed by accessing the database is available from the SEC at http://www.sec.gov.
For more information please contact: Sify technologies limited Grayling investor relations Mr. Pijush the woman Truc Nguyen; Ext. 418 investor relations; Ext. 2703 truc.nguyen@grayling.com pijush.das@sifycorp.com Mr Praveen Krishna Mr Christopher Chu; Ext. 426 communications; Ext. 2055 christopher.chu@grayling.com praveen.krishna@sifycorp.com + 1-646-284 9400 + 91 44 22540770 / 22540777
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