AskMe is on the verge of shutting down and the company owns close to 300 crores towards vendor payment.
Today, the sellers met with new independent directors who says they are new and need time to study. As per them, previous transactions are not their liability.
They were asking for 30 days time for forensic audit.
After sellers put pressure on them, the new management has agreed to send recommendations in 7 in days to astro (investor) and another 7 days to settle the transactions.
From what we are told, the CEO is currently in Dubai and even the employees haven’t been paid salary for the last 2 months.