| 28th
September 2006
We the 100% Share Holders and
local Directors of Vmoksha Technologies Ltd - Mauritius
here by confirm that none of our shares are in any
escrow account.
We also hereby confirm that our
agreement with M/s Helios & Matheson lapsed/expired
on 9th Sept 2005. M/s Helios & Matheson did not
complete any of its obligations in regards to the
Sale Purchase Agreement.
The escrow agents did not extend the lapsed / expired
agreements. On numerous occassions the escrow agents
confirmed the non fullfillments of obligations by
Helios and Matheson.
- Helios & Matheson did
not deposit the required preferential shares in
the escrow account which was one of the most basic
requirement of the Sale Purchase Agreement.
- Helios &Matheson did
not deposit an original bankers draft Rs. 1.2 Crores
as a walk away fee in to the escrow account which
was the second most basic requirement of the Sale
Purchase Agreement.
Instead
sent the following photo copy only
murali
<murali@heliosmatheson.com>
07/12/2005 09:15 PM
To:
n.v.sivakumar@in.pwc.com
Cc: rk@khaitanco.com, Pawan@Vmoksha.comSubject
Re: Documents held in Escrow
To Escrow Agents:
A scanned copy of the pay order for
Rs.1.2 cr is attached. Kindly arrange to return
the cheque.
Best regards
Muralikrishna |
Due to the above two basic conditions having not
met by Helios & Matheson the agreements lapsed
/ expired after 120 days on 9th sept 2005.
We Vmoksha Technologies Ltd - Mauritius are an independent
Share Holding company.
We also hereby confirm that we the shareholders and
local directors have never remitted any funds to M/s
Helios & Matheson which they are portraying to
have received from us in their annual report of 2006.
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