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Bluelabs Technology Solutions, an IT services company, wound up its two facilities operated from Infoparks at Trichur and Kochi last September. Hundreds of IT professionals lost their jobs in the sudden shutdown of the company. The company was functioning in the fields of IT, Design, and Managed services. They were the developers of the new website of Federal Bank.
Many of the employees were denied their salary for 5 to 6 months, which may go upto 2 to 3 Lakhs. When the employees found out that their PF was not paid by the company even though the amount was deducted from the salary, they had filed a complaint with the commissioner of Employee Provident Fund.
According to keralaitnews.com, the CEO of the company said that there was a loss of Rs. 6 Crores and he was left with not other option but to shutdown.
I know this guy. He’s a thorough cheat.
i too know him when he was in coimbatore….This is the condiiton of IT in kerela at Inforpark/techniopart and smart city. jsut hype..like a baloon..
Someday it will blow away..
__http://www.go4funding.com/Looking-for-Investors-for-a-Start-up-IT-Company/P19806.html
Looking for Investors for a Start up IT Company
Posted by: Mathews Jose on 9/29/2010 9:15:56 AM
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Funding Needed:
$100k – $250k Category:
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Description:
We are a Two month old Start up IT Company with 25 Engineers and 14 clients from 7 countries. We have enough projects in our hand to take care of our expenses and Profitable.
We are looking to Raise Working Capital thru Investment for our Expansion needs. We are looking at Moving to an IT Park and set up a strong Marketing Team in Australia , Germany and Sweden.
Looking at Growing to 100 Engineers by March, 2011 and expecting a business of USD 2.5 Million by March, 2012 and employee count of 300 Engineers.
Please feel free to contact me if you want me to clarify anything. If you are interested,please do email me.