AskMe tussle: NCLT postpones hearing to Nov 9

think_1212123The National Company Law Tribunal (NCLT) has postponed till 9 November the hearing on a petition by Sanjiv Gupta, former managing director and CEO of the defunct e-commerce firm AskMe, against the company’s controlling Malaysian shareholder Astro Group. The hearing was deferred as both Gupta and Astro sought time to respond to the explanations sought […]

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Exclusive: Astro’s chequered history kept investors away from AskMe: Sanjiv Gupta

Sanjiv-Gupta_feThe management of AskMe had proposed a buyout offer as “the chequered past” of the majority investor Astro discouraged other investors from associating with the company, said Sanjiv Gupta, former chairman of the troubled ecommerce firm which faces closure threat. “It belies every aspect of sanity when they are not interested in the proposed MBO […]

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Exclusive: AskMe may be wound up as Astro rebuffs management buyout offer

Sanjiv-GuptaTroubled Indian ecommerce company AskMe is likely headed for a winding-up as its parent Astro Group has rejected the buyout proposal made by the management team leading it. The Malaysia-based group, which owns 98.5% stake in the company, has said it will leave it to the liquidator appointed by the court to find a potential […]

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