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The company during the year 2007 has acquired 51% stake in Esys Technologies Pte Ltd. which was a PC manufacturing and Technology Components Distribution major. The company had a clear vision and business plan for the successful integration of Esys Technology with the natural synergies of the Teledata group. The company respected the JV partner's firm commitments, management governance and endorsed agreements to meet these objectives.
Resulting from the anomalies and disassociations with Esys Technologies Pte Ltd., Singapore , the company had initiated legal proceedings. This matter is currently sub-judice, and all efforts are on to ensure legal proceedings against the defaulters.
In keeping with our respect and continued efforts and determination to enhance share holder value, we will be keeping investors fully informed on developments.
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