The Hindu : Kale to transfer Citi businesses to Polaris

Online edition of India's National Newspaper
Wednesday, May 21, 2003

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Business

Kale to transfer Citi businesses to Polaris

By Our Special Correspondent

CHENNAI MAY 20. Kale Consultants has decided to transfer all the Citi Group-related businesses it had been doing on a sub-contract basis along with the personnel concerned to Polaris Software Lab. Kale, it may be noted, had the mandate from the erstwhile OrbiTech to work on projects pertaining to the latter's parent, the Citi Group.

In a notification to the Bombay Stock Exchange, Kale said it had entered into an agreement "for transfer of the existing business between the two companies together with the delivery people concerned to Polaris". The agreement, the notification said, was limited to the business dealings with Polaris.

Polaris, Kale and Nucleus are among the corporates that OrbiTech had mandated to work for the Citi Group projects.

Following the merger of OrbiTech with Polaris, it serves the cause of the latter to keep the sub-contractors' list to the minimum and directly serve the Citi projects and improve its billings and margins in the bargain.

Informed sources aver that at least 40-odd Kale personnel working for on the Citi projects (though indirectly) would now stand transferred to the rolls of Polaris.

It is not yet clear if Kale-like agreement would be penned by Polaris with other sub-contractors (for the Citi projects) of the erstwhile OrbiTech. Arun Jain, Chairman, Polaris, however, said if opportunities presented, his company would opt for similar arrangements with other sub-contractors.

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