Harikrishnan floats new company

CHENNAI, INDIA: After a 12-year partnership with SR Nair, PK Harikrishnan, CEO, Alltime Power Technologies, Cochin has decided to float a new company under the same name. Unlike the previous company, this will be a partnership with his wife.

Apart from being the CEO of Alltime Power Technologies, Nair also runs his own company called Team Frontline.

Speaking about the reasons that spurred him to make the decision, Harikrishnan said, “There were so many issues in the company. Due to Nair’s lack of support I offered to buy my shares of the company. However he kept dilly-dallying the process, which made me float my own company. We started our full-fledged operations this month and are looking to stabilize the company now.”

Harikrishnan informed that he has surrendered the sales tax registration number of the old company and is trying to dissolve it legally.

Earlier Harikrishnan had worked under Nair in HCL. The duo started the partnership concern with an investment of Rs 1.5 lakh each in 1997. While Nair’s investments multiplied to Rs 34 lakh in 2008 the latter’s remained the same. “When we started our company we decided to share the profits equally. Today, I feel like a deceived businessman and want other partners, who nurture their organization with huge difficulties to take wiser decisions,” Harikrishnan claimed.

He added that he has absorbed all the seven employees from his previous organization and would continue to deal with all the products that he has been dealing in all these years. “I have been distributing HCL monitors for years and have taken up the distribution of Kingston products, as HCL has signed up the distribution of Kingston,” he informed.

When contacted, Nair preferred not to comment on the issue.