• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Chennai , Aug. 10

The Madras High Court has directed Mr Pawan Kumar, promoter of vMoksha Technologies, not to solicit or offer services directly or indirectly to any prospective customers of vMoksha companies for a period of 18 months from January 28, 2006, or till the passing of the award of the Arbitrator, whichever is earlier.

Salient features of the order, passed by the division bench comprising Chief Justice Mr A.P. Shah and Mr Justice D. Murugesan, also directed Helios & Matheson and Mr Pawan Kumar to co-operate in the quick disposal of arbitration proceedings. The Bench also directed the parties not to issue adverse statements to the media with respect to the two companies. Helios & Matheson, the order says, is not to show vMoksha group of companies as belonging to Helios & Matheson on its Web site.

Interim Injunction

It may be recalled that Helios had acquired vMoksha in April 2005 for $19 million. After that, the transaction ran into rough weather with Helios claiming that Mr Rajeev Sawhney, Co-founder of vMoksha, was against completion of the deal. In late February, the High Court passed an interim injunction restraining Mr Pawan Kumar, one of the founders of vMoksha Technologies, from carrying on any business or taking up any new employment or continuing in any other employment. It also restrained the other Co-founder Mr Rajeev Sawhney, current Chairman of vMoksha, his associates and nominees from functioning as the Chairman and/or Chief Executive Officer or from altering the managerial structure and functioning of vMoksha.

More Stories on : Courts/Legal Issues | Mergers & Acquisitions | Software

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
India has become key R&D centre, says Dell

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line