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AskMe tussle: NCLT postpones hearing to Nov 9

Monday, October 17, 2016 | More »

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The 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 A...

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

The 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 aspec...

27 September, 2016 | More »

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

Troubled 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 c...

23 September, 2016 | More »

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Exclusive: Sanjiv Gupta makes fresh offer to buy AskMe from Malaysia’s Astro Group

Sanjiv Gupta, former chairman of the troubled hyper-local ecommerce and grocery company AskMe, incorporated as Getit Infoservices Pvt Ltd, has reached out to the controlling shareholder Malaysia’s Astro Group with an offer for management buyout for the third time in as many months. The development...

15 September, 2016 | More »

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Management-investor row erupts as Astro threatens forensic audit of AskMe books

A failure to bring in fresh funds that led to the suspension of operations and job cuts at AskMe Group, incorporated as Getit Infoservices Pvt. Ltd, has resulted in a public display of acrimony between Malaysian investor Astro Group and the Indian company’s management. Astro Group said it plans to...

22 August, 2016 | More »