Krrish chairman, CEO in hush-hush visit to Colombo
View(s):aTop executives of Krrish, the multi-million dollar stalled project at Transwork House in Fort, made a secret visit to Sri Lanka last week, without even informing the local office that they were in Colombo.
The failed project has run into funding issues and is embroiled in allegations that pay-offs were made to some influential parties including the Securities and Exchange Commission Chairman.
On Thursday, Opposition legislator Harsha de Silva re-iterated calls for the government to cancel the Indian-backed project which has got special tax benefits as a ‘strategic development’ investment.
At the local office, Krrish is yet to pay its creditors for the past month and those providing services to the organisation have been knocking on the door for payment.
The Business Times learns that Krrish Chairman Amit Katyal and CEO R.P. Gupta arrived in Sri Lanka on August 23 and stayed at the Hilton. The India-based duo met a high ranking official involved in urban development but after a brief 15 minute meeting, they were directed to another official.
Three days later, Mr. Gupta’s son had arrived and met a senior Urban Development Authority official with two letters – one seeking the lease deed for part of the land while the second letter requested a month’s time to make the full payment.With work at a standstill, staff at the Colombo office is leaving.
“Many staff – especially in the marketing department have left to other companies in the past few months. Some others want to quit,” a company source told the Business Times.
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