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NIIT Technologies has received ₹41.9 crore from a government entity as part-payment towards a settlement agreement to resolve certain project issues. However, the company has not dislosed the project details. The payment will result in revenue recognition of ₹27.1 crore and a reversal of bad debt provisioning of ₹13.15 crore in the financial statement of the year ended March 2017. Shares of NIIT Technologies were down 0.4 per cent at ₹433.15 on the NSE.
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