Aftek Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 04, 2009, has convened the 22nd Annual General Meeting ("AGM") of the Company on September 30, 2009.
Further the Company has noted that, due to corruption of financial data and the time required for conducting an audit of the accounts of the Company, in accordance with and in pursuance of the provisions of Section 166 of the Companies Act, 1956, the Company had made an application to the Registrar of Companies, Maharashtra ("ROC") on August 18, 2009 for approval for extension of time of three months for holding the AGM. However, by its Order dated August 25, 2009 the ROC has rejected the said application. In view of the aforesaid, the accounts etc. would be circulated as soon as the same are ready and audited. In the circumstances, the Company now intends to hold the AGM on September 30, 2009 to transact the other business (other than accounts and dividend) and adjourn the same to a future date when audited accounts can be laid thereat.
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I don`t know what is happening the company. In their latest filing to BSE, they are saying that they have lost finacial data, and for this reason, they want to extend the AGM (scheduled on 30th september, 2009) by another 3 months. I don`t understand how a software company loose its own finacial data. Any border can throw some light, as to what is happening.
Financial data corruption in a IT company. What a joke. anybody ever heard in the corporate history.
its time for retail investor get together at AGM and plan the future strategy. so do not miss this AGM
It seems the management is in serious problem with the auditors and buying more time to furnish the cash balance of Rs300+ crore which is now seems doubtful.
What a joke from Aftek promotors..Corruption of financial data and Deposits in Swiss Bank. Teledata and Aftek working on the diretion of Satyam fraud but cleverly trying to delist the shares thereby escape the enquiry from authorities and from public.
I agree. I think they have misplaced the FD receipts for Rs 300 Crs, which they have claimed to be in some Portugese Bank. I believe after Satyam fiasco, their auditors are asking for a proof for that FD.
Something strange is happening here. AGM notice is stating that audited results will be considered but they have gone to town saying that data is corrupted and yearly as well as quarterly results will be delayed. Was this a April fool story.
One consolation is that the auditors are not being changed. so things may not be that bad.
Clear hold for the present.
| NIFTY 
