Brief: Allied Digital Services Says All Contracts Remain Live, Operating At Regular Levels Of Activity

Allied Digital Services

22/03/2023 04:57

March 22 (Reuters) - Allied Digital Services Ltd
 ADIS.NS :
    * ALLIED DIGITAL SERVICES LIMITED PROVIDES BUSINESS UPDATE
    * COMPANY REMAINS WELL-INSULATED FROM GLOBAL RISKS
    * ALL OF COMPANY CONTRACTS REMAIN LIVE AND COMPANY IS
OPERATING AT
REGULAR LEVELS OF ACTIVITY
    * U.S. UNIT ADS LLC HAS UNDERTAKEN MULTIPLE INITIATIVES TO
SECURE
ITS FUNDS AND TO MITIGATE RISKS ARISING FROM BANK FAILURES
    * ADS LLC HAS TAKEN MEASURES TO BRING ALL OF ITS FUNDS UNDER
FEDERAL DEPOSIT INSURANCE CORPORATION COVERAGE
    * CONSIDERING CURRENT LEVEL OF CARRYING SURPLUS FUND
BALANCES,
RELYING SOLELY ON FDIC COVERAGE WOULD NOT BE SUFFICIENT
    * ALSO UTILIZED SERVICES OF INTRAFI, A PROVIDER OF DEPOSIT
INSURANCE SOLUTIONS
    * THROUGH INTRAFI, SURPLUS FUNDS PLACED WITH MULTIPLE BANKS,
ENSURING 100% OF CO'S CASH AND BANK BALANCES ARE INSURED
    * THERE IS ADEQUATE LIQUIDITY TO MAINTAIN ACTIVITY LEVELS,
SCALE
UP OPS TO CATER TO LARGE AND GROWING ORDER BOOK

Source text for Eikon:  ID:nBSExywSG 
Further company coverage:  ADIS.NS 

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