Date:17/12/2002 URL: http://www.thehindu.com/2002/12/17/stories/2002121705220103.htm

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Polaris chairman held

By Our Special Correspondent

CHENNAI DEC.16 . The Indonesian police have detained the Chairman and Managing Director of the Chennai-based Polaris Software Ltd., Arun Jain, who had gone to Jakarta on a business call. Rajiv Malhotra, head of the bank ware division of the company, who accompanied Mr. Jain was also held.

According to a company notification to the National Stock Exchange,they were detained on complaints filed by a private bank in that country.

The notification was, however, silent on the nature of complaints Mr.Jain and three other Polaris officials had gone to Jakarata last week to resolve disputes relating to commercial issues with the bank.