Financial Daily from THE HINDU group of publications
Tuesday, May 09, 2006
Financial Daily from THE HINDU group of publications Tuesday, May 09, 2006 |
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Info-Tech
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Courts/Legal Issues Pertech properties under the hammer Kohinoor Mandal
The Official Liquidator has published ads seeking bids for Pertech's Goa office space and furniture in its Kolkata office.
Kolkata , May 8 The movable and immovable properties of the ailing Pertech Computers Ltd, one of India's first-generation indigenous manufacturers of personal computers, is under the hammer. In accordance with a Calcutta High Court order dated March 23, 2006, the Official Liquidator has published advertisements seeking bids for Pertech's Goa office space and furniture in its Kolkata office. In the advertisement published on Thursday, the Official Liquidator of the Calcutta High Court has stated that approximately 275 sq.m of office located in the Unitech City Centre of Panjim, Goa would be sold off. Moreover, the furniture lying in Pertech Computers' Salt Lake office in Kolkata, which is its registered office too, would be sold. Both the sales would be conducted on "as is where is and whatever there is basis." The liquidator has also mentioned specific times for the bidders for the inspection of these `properties'. The last date for bidding is June 15 and the bids will be opened on June 16. Pertech Computers, which was promoted by Mr Dadan Bhai, was known in the early 90s for its aggressive marketing of personal computers. Subsequently, the company's fortunes began to slide despite Mr Dadan Bhai's attempts to turn things around. . . The company raised approximately Rs 72 crore through an IPO in August 1994. It continued to raise funds through bill discounting, inter-corporate deposit, lease agreements and fixed deposits. The company failed to meet completely its commitments .
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