Educomp lodges complaint

Educomp Solutions Limited today announced it has taken action against persistent malicious emails that are being circulated since the last few days among media and the investor community. The company has filed a complaint with the Additional Commissioner of Police, Economic Offences Wing, Crime Branch (Delhi Police) to identify the source of these emails and has sought action against them. "Educomp is seeking further institutional remedies from the government and the market regulators to help protect the shareholders' interests from what seems to be a concerted attempt to damage the reputation of the company and drive down the stock price of the company", said Educomp CEO, Shantanu Prakash. There seems to be an attempt to draw a parallel between the company and the recent developments at Satyam which have bred suspicion about corporate accounting standards in general amongst the investor community. "There is no basis for any such reports regarding Educomp and we are determined to protect our shareholders' interests at all costs," Prakash added.