AskMe Shuts Down; Employees Laid Off

AskMe has shutdown and all employees have been laid off / asked not to come to office.

Astro Holdings, which holds 98.5% stake in AskMe Group, refused to participate in the next round of funding and also didn’t do the MBO (management buy out), which was on the cards.

Astro earlier skipped the company’s board meeting widening the differences with the minority shareholders. Minority shareholders have also alleged that Astro hasn’t cleared dues of Rs 300 crore.

From what we are told, employees haven’t been paid for more than 2 months and the CEO is not in India anymore to handle these queries.

Leave a Reply

Sign Up for NextBigWhat Newsletter