Govt to ban Sai Infosystem

The company is involved in over Rs 1000 crore fraud case

sunil-kakkad-sai-infosystem-cmd

Sunil Kakkad, CMD, SAi Infosystem,who is missing since June 2013

The ministry of communications and IT is planning to ban Sai Infosystem for a period of five years. The government department has issued a notice in this regard to the company asking the latter to respond within 15 days or face a ban.

“It is proposed to ban participation of Sai Infosystem in any tender/RFP of the department of posts for a period of 5 years,” the notice said.

The Ahmadabad registered company is given 15 days period to respond to the DoT notice failing which a ban will be slapped.

“If no representation is submitted within the stipulated period, it will be presumed that Sai Infosystem has nothing to represent…. and orders of banning will be issued,” added the notice.

It can be recalled that that the Gujarat based company is allegedly involved in Rs 1000 crore fraud and its CMD has been on large since June 2013. Sai Infosystem’s CMD Sunil Kakkad and his family has been reportedly missing since then and not appearing before government agencies.

Sai Infosystem is allegedly involved in a fraud case in which the company has failed to repay the loan of around Rs 1,035 crore from various banks like SBI, IDBI and Bank of Baroda besides Allahabad bank and others.

SBI in the past had issued a public notice asking people not to deal with Sai Infosystem.

Besides defrauding various lenders, it had not paid salaries to its employees following which the companies employees had registered an FIR against its owners. The police also had arrested Sai Infosystem CMD’s brother Samir Kakkad as its CMD Sunil Kakkad was absconding.

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