The winding up petition from the Fusionex Group of corporations remain pending before the courtroom and with the Courtroom hearing the petition in May well 2024.

The management staff as well as CEO owe a fiduciary responsibility on the Board and can't withhold any information and facts asked for from the Board,” he reported.

"He signed an irrevocable declaration to vote in favour of your delisting," stated the source, who declined to become identify because of the sensitivity of the knowledge. 

But a clear picture emerges with the unusually detailed winding up petition filed by Hitachi, seen by DNA, exactly where Hitachi chronologically lists a series of actions by Ivan and his leadership team over a 15-month period that is definitely sweeping and breathtaking in scope, outlining flimsy excuses, non transparency and non-cooperation with Hitachi.

“The past senior management departed the company quickly with none type of handover of the management along with the functions.

A strong advocate of not resting on a single’s laurels and passionately driven to create a optimistic difference, Ivan not too long ago launched Fusionex’s Large Information solution, aptly named GIANT - an all-encompassing Answer with the extent of comprehensiveness that's the 1st ever to become developed by an Asian company. 

Your browser isn’t supported anymore. Update it to have the greatest YouTube experience and our most recent capabilities. Find out more

“Only then we will discover out the reason for the investigation. Anything at this stage of time is very speculative until eventually the investigation is comprehensive.

It appears like you were being misusing this characteristic by heading too rapidly. you can check here You’ve been briefly blocked from making use of it.

Amidst the paucity of data accessible to it however, a list of finance ledgers concerning the Fusionex Team (dated 05.07.2023) ended up also located. According to Hitachi, “the ledgers confirmed a variety of suspiciously voluminous transactions pertaining to V-Circle’s and Convedge’s ‘software development costs’ and/or ‘know-how fees’.

Additionally, acquiring set up the Fusionex Academy, the business collaborates with educational institutions to coach the long run generation of huge Details professionals by strengthening their technological skillsets required to remain aggressive in today's at any time-transforming IT sector.

Your browser is not supported. Outside of date browsers have security flaws and may not Screen all functions of about.me.

Hitachi put five of its executives as non-government administrators within the board with Ivan and his CFO, Chen Chiang as executive administrators.

The following day, Fusionex known as for a meeting with Hitachi where by it suspended any more conversations based on the freshly acquired government directive, like not permitting the Audit Committee to satisfy with Fusionex auditors EY.