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Our Bureau

Chennai, Sept. 27 Dhanus Technologies Ltd has offered investors, including qualified institutional buyers, the option of withdrawing their applications from its initial public offer, according to a newspaper public notice issued by the company, denying allegations made in an article published by a Tamil magazine.

The last date for receipt of withdrawal will be October 6.

The notice says that IPO was open for subscription from September 10 to 12. However, subsequent to the Red Herring Prospectus, a city-based Tamil magazine published an article containing certain allegations made against the company, its promoters and employees.

Through the notice, the Chennai-based company clarified that the article was ‘speculative’ and denied the allegations, including cheating banks by creating bogus companies. At the company’s guesthouse, the Central Bureau of Investigation (CBI) seized 570 chequebooks of various banks; 368 cheque leaves of different banks and two demand drafts. However, there has been no further action by the CBI, subsequent to the search. No further summons or notice or warrants have been issued to the company, its promoters, directors or employees, the notice said.

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