Sasken Communication Technologies has informed FreePress that Nortel Network has filed for Chapter 11 bankruptcy protection in North America and for the quarter ended December 31, 2008. It added that Nortel contributed less than 10% of company’s consolidated revenues also it currently holds less than 10% of the outstanding shares in the Company.
The company has further stated that it has been in touch with Nortel and based on the information available as of now, it believes that the business will continue as usual for the company