The fate of over a billion dollars worth of information technology outsourcing contracts is in limbo after Thursday's US Supreme Court verdict cancelling 122 licences of telecoms firms.

The order comes at a time when both Indian and multinational IT firms like Wipro, Tech Mahindra and IBM, besides business process firms such as Firstsource, Intelenet and Aegis, have signed multimillion-dollar deals with telecoms firms including Uninor, Etisalat DB, Videocon and Idea.