FIR against Educomp; co calls it malicious
Educomp Solutions, the Gurgaon-based education firm, said on
Thursday it is aware a first information report (FIR) complaint
accusing the company of fudging its balance sheets to manipulate its
stock prices was filed on February 13 by two investors named Gajendra
and Rajendra Kumar.
The company denied all allegations and has sought an enquiry into the FIR.
"The
latest malicious attack on Educomp is another attempt by vested groups
to use unethical and frivolous means to sully the image of the
organisation. This FIR has unfortunately been lodged without
authentication/verification. That it is motivated is clear to the
unbiased eye, our legal departmetn is taking requisite and necessary
action on the matter," said Shantanu Prakash, the managing director of
Educomp.
The FIR, a copy of which is with DNA Money, was filed at the Sihani Gate police station in Ghaziabad.
It
has accused the Educomp management of manipulation of results, tax
evasion and wrong valuation of one of its subsidiaries etc.
Sebi is already probing Educomp Solutions for market manipulation of its shares.
Edited by investor - 26/Feb/2009 at 8:19am
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