SBI issues notice after Sai Info Systems CMD goes 'missing'
AHMEDABAD: State Bank of India has cautioned people here not to deal with Sai Info Systems' properties and securities mortgaged to the bank after the company's CMD went incommunicado.
SBI, which heads a consortium of banks lending to SIS, has published a public notice in few dailies here, forewarning the people against dealing with any of the company assets or Main promoter and CMD of Sai Info Systems (SIS), Sunil Kakkad, is not contactable and is reported to be "missing", the SBI notice stated.
SBI has mentioned two companies' assets, which are mortgaged to a consortium, as security for various credit facilities granted.
These are Click Telecom Pvt Ltd (associate of SIS), with a registered office at Raheja Chambers, Nariman Point, Mumbai and Attrium Infocomm Pvt Ltd (subsidiary of SIS), with an office at Bodakdev, Ahmedabad.
As on March 31, 2013, Kakkad was a director in both these companies.
He went 'missing' in June this year, leaving hundreds of employees here without salaries, though SIS figured amongst the largest Gujarat-based infotech companies, and had launched India's first "see phone", a video telephony service, in a tie-up with BSNL.
Agitating company employees have posted on social media websites and given a call to meet in Ahmedabad on August 3 to decide their further course of action.
