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Educomp Clarifies no Fraud in Company

Posted By On 9:06 AM Under

Satyam scam has stung everybody and none has been spared including the reputed companies and one such company which suffered is Educomp and because of the rumours even sell rating has been given for this stock of India. However the company has issued a clarification and one can approach them to get a satisfactory response. The letter by the company is as quoted below.
Dear Investor,

We have noted that there are a few malicious and anonymous letters about the company that are being circulated to mislead investors and we wish to clarify our position with respect to one such letter that has been brought to our notice by investors. We are a highly transparent company and wish to achieve the highest standards of corporate governance.Needless to say, the company’s management is available to answer any of the following queries and is available on the phone/email. We have provided our clarifications against each of the false allegations. (Please see below)
It appears, that in the present environment, the circulation of such false allegations is mainly to create panic and for some people to profit from the same. We urge you look at some serious research on the Education space in India such as CLSA Education Report, Merrill Lynch reports on Educomp, Credit Suisse report, JM Financial Report, HDFC report, ICICI report and IDFC-SSKI report.
To reiterate, I am available to answer your queries at any time. My email id is sangeeta.gulati@educompdotcom

2. However one has to be cautious as smoke is emananated only when fire is in vicinity and thus it will be better to stay away from this volatile counter.

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