Sai InfoSystems’ Rs1,400 crore fraud: Another Satyam?
Sucheta Dalal 10 Oct 2013

Sunil Kakkad, the chief of Sai InfoSystem, which was platinum sponsor of Vibrant Gujarat summit, is absconding. Employees are not paid salaries for the past nine months while lenders have issued notice against the promoters. However, there is no substantial action from investigation agencies

Moneylife Digital Team


Gujarat-based Sai InfoSystem India Ltd (SIS), which claim to be an IT company worth Rs2,000 crore is alleged to have defrauded several banks. The company has not even paid salaries to its about 1,400 employees in the past nine months besides not paying any taxes, insurance and provident fund deductions to the government.

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