Bhopal-based Microworld stalls payments

BHOPAL, INDIA: The last one year has been a trying time for many small IT businesses. Blame it on the slowdown or its company policies, Bhopal-based Microworld was another such channel business that shutdown about a year back.

Latest owes Rs 5 lakh to Latest Information Technology and Rs 45,000 to Coral Business Systems. The company has filed a case against Microworld

for cheque bouncing. Sharing details on the case Bhupendra Gaur of Latest Information Technology said, “About three year back the company started going down. While initially their cheques would clear, gradually the PDCs started bouncing. All channel partners stopped supplying them with materials and eventually about a year back they closed down their shop.”

Gaur added that apart from Latest Information Technology, Microworld owed small amounts to the channel community, and that the payments to various banks, amounting to Rs 50 lakh, made up the major debts on the company. Today the brothers who were running Microworld have resorted to various other means to gather capital to return their debts. While Kapil Jain is employed in a company, Kunal is dabbling with shares. “I met Kunal about a month back and he said that he needs about six months time to return my money. I have heard that they are even selling their house to repay the loans to the banks. But what is bothering me is that while they don't deny that they will return the money they keep stalling the payment,” lamented Gaur.

Sanjeev Kumar of Coral Business Systems said, “We are in contact with Kunal and Kapil. They have been making small payments and clearing off our outstanding amount. Next week we are looking forward to another payment from them.”

The issue has been raised by Gaur with Bhoj IT and Office Automation Association (BITOAA). However, the association has not got any confirmation for any other dealer in the region. When contacted about whether the association would be taking up the issue, Ashish Jain, President, BITOAA said, “Latest Information Technology did raise the issue with us, but they filed a legal case so there is nothing that the association can do now. Also, Microworld is not a member of our association. No other dealer has come to us. But if they do they do, and they have not already taken legal recourse, then we will help them,” averred Ashish Jain.

Till the time of going to press, neither brothers were reachable.