The winding up petition towards the Fusionex Group of firms remain pending ahead of the courtroom and Using the Court docket Listening to the petition in May perhaps 2024.

Hitachi’s legal professionals ended up also not provided a copy on the directive and were only allowed to look at it with out getting any notes during a gathering between the two sides in KL on 23 Nov.

Inside of a composed response handed to Ivan on the working day of the meeting, Hitachi expressed grave worry in excess of The dearth of communications and transparency by Ivan and his Management staff more than the actual mother nature with the financial circumstance of Fusionex.

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The next day, Fusionex called for a meeting with Hitachi where by it suspended any further conversations determined by the freshly received governing administration directive, such as not allowing for the Audit Committee to satisfy with Fusionex auditors EY.

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In 2017, Fusionex withdrew the listing of its shares from London Stock Exchange Intention for being A non-public corporation, less than five years immediately after its oversubscribed Original general public offering.

“This determination stems through the insurmountable challenges arising through the inadequate handover of documents and data through the former management, which correctly still left Hitachi without any variety of data relating to the administration, operations, and continuity of your business enterprise of Fusionex Team,” he said.

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In 2017, Fusionex withdrew the listing of its shares from London Inventory Exchange AIM to generally be A non-public corporation, below five years just after its oversubscribed First public featuring.

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