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Silverline seeks more time from SEC

Mumbai, Oct. 21: Silverline Technologies Ltd has sought a second extension from the US Securities and Exchange Commission (SEC) for filing its annual report for the year ended March 31 2002.

The company, in a recent submission to the US market regulator, asked for more time as the management was completely taken up with issues such as negotiating terms of the previously announced sale of one of its divisions to Cognizant Technology Solutions, legal disputes and efforts to raise additional funds.

It had earlier anticipated filing its annual report on or about November 29.

The company had previously filed an extension of the time to file its annual report on Form 20, “but has since determined that it will be unable to comply with the filing deadline imposed by such a rule”, Silverline added.

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