Pentamedia Graphics to contest CLB order

Pentamedia Graphics' chairman V Chandrasekaran today said that the company would appeal against a recent Company Law Board order that had asked the government to appoint two directors on Pentamedia's governing board as a corrective measure.

Chandrasekaran told Business Standard that he had not yet received a copy of the order from the government. However, he added, "We are appealing against this."

Company's counsel Arvind Datar felt that they could appeal against the order, said Chandrasekaran.

The CLB order was passed in the context of the sale of Pentamedia Graphics' software division to Pentamedia Technologies in 2000.

The CLB order said that it found irregularities with the process, and wanted government directors on board as a corrective measure.