Update: In a statement, the AskMe Group fired back at Astro and said that it was incorrect to call the company insolvent. It added that the closure costs associated were $76 million and were recorded in minutes of a meeting between the two companies. The full statement* : "Astro is now trying to hide behind new excuses of not paying salaries and vendors by levelling baseless allegations against minority shareholders and operating management of wrongdoing and forensic audit. Minority shareholders and operating management challenge them to appoint neutral party like KPMG or Deloitte. And challenge them to release publicly the audit committee minutes and all correspondence since April 30th. It may be reminded to Astro that all three audit commitee members were their own nominees and the CFO was their appointee and reporting to them as per shareholders agreement. They are already chargesheeted by CBI and ED for fraud and cheating and money laundering in this country and are absconders under the Indian judicial system. Astro has invested 275 million dollars into the company over a period of 6 years!!! From 2010 including various promoter and company acquisitions and bank interest. We request MediaNama to ask Astro to make public all correspondence with the company since 30th April till date and also the minutes of the board meetings and audit commitee meetings.Astro owns Askme at 98.5 percent and all actions are taken under its directions. It is now trying to flee the country and not pay dues under the new excuse of forensic audit" Earlier:…
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- MediaNama Daily: The Great Indian Surveillance Spectacle April 1, 2023
- Are Courts Doing Enough To Question “Proportionate” Intrusions on Privacy And Other Rights? #NAMA March 31, 2023
- Why did PhonePe cancel its deal to acquire ZestMoney? March 31, 2023
- RTI: Chennai police confirms 9 drones as part of a Drone Police Unit and here’s why it’s important March 31, 2023
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