Ten days after issuing a bailable warrant against Sanjiv Gupta, former managing director and chief executive of the defunct online retailer AskMe, on a case filed by advertising firm J Walter Thompson on payment default, the Delhi High Court cancelled it on Friday, Gupta’s spokesperson told VCCircle.
The Delhi High Court issued the warrant on 12 September after the counsel for the liquidator said Gupta had not filed a statement of affairs and had not even appeared before the liquidator for recording the statement.
However, Gupta’s counsel told the court that he had appeared before the official liquidator to file his statement on 6 April.
“There was confusion about Mr Gupta’s appearance before the official liquidator. The same has now been ruled out in the order,” a spokesperson from AskMe said.
AskMe, run by Getit Info Service Pvt Ltd, has been under liquidation since its majority investor Malaysia-based Astro Group approached the Delhi High Court seeking to windup the defunct e-commerce venture. This was preceded by a public spat last year between the investor Astro and AskMe’s management led by Gupta, who left the firm in August 2016.
Astro had rebuffed the management’s plea for additional funds and a buyout offer. The loss-making firm suspended operations and an estimated 4,000 employees lost their jobs as funds dried up a year ago.
The liquidation process is underway as various vendors and some employees to whom AskMe owes dues are filing claims with the liquidator.
Logistics company Blue Dart Express has been allowed to file claims with the liquidator, documents from the Delhi High Court show. Advertising firm JWT, technology vendor HCL, and a group of AskMe employees had earlier filed similar cases.
As carried vccircle. on 25.9.17