Financial Daily from THE HINDU group of publications
Wednesday, Dec 18, 2002
Financial Daily from THE HINDU group of publications Wednesday, Dec 18, 2002 |
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Corporate Disputes Corporate - Corporate Disputes Info-Tech - Software India takes up Polaris arrests with Indonesia Our Bureau
NEW DELHI, Dec. 17 INDIA today took up with Indonesia the arrest of the Polaris Software Labs CEO, Mr Arun Jain, and another company official in Jakarta over a commercial dispute and hoped that the issue would be resolved soon. The Foreign Office called the Ambassador of Indonesia here to convey India's views on the matter, an External Affairs Ministry spokesman told newspersons here today. "We have taken it up strongly both in Delhi and Jakarta," the spokesman said, and added, "we hope that the Indonesian authorities would assist in resolving the situation as soon as possible." The Union IT and Telecom Minister, Mr Pramod Mahajan, said he would request the Prime Minister, Mr Atal Bihari Vajpayee, to talk to the Indonesian President on the arrest of Mr Jain. If the issue were not resolved in a day or two, Mr Mahajan said the External Affairs Minister, Mr Yashwant Sinha, would take it up with his Indonesian counterpart. The police in Jakarta have detained the Polaris CEO and another company official, Mr Rajiv Malhotra, for the past three days over a dispute with Bank Artha Graha, which had entered into a software development deal with Polaris. Mr Jain went to Jakarta to resolve some commercial issues, Polaris said in a statement. The company had signed agreements with the Bank Artha Graha in June 2002 and August 2002 for doing central processing, disaster recovery and branch server related works. The contract was supposed to be completed by July 2003. Our Chennai Bureau adds: Polaris officials claim that the dispute between Polaris and Bank Artha Graha, is commercial and that there is no criminal offence involved. Addressing the press today, Mr Govind Singhal, Executive Director and acting CEO, Polaris Software, said, "Our contract with the bank cites Singapore law for purposes of arbitration, and not Indonesian law. This is something that the client had also agreed to."
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