Date:04/01/2005 URL: http://www.thehindubusinessline.com/2005/01/04/stories/2005010402610300.htm

Back Shonkh Tech denies siphoning GTB funds

Our Bureau

New Delhi , Jan. 3

SHONKH Technologies, which figures in the list of those companies against which Oriental Bank of Commerce has filed a criminal complaint, today denied that it had siphoned funds of the erstwhile Global Trust Bank(GTB) as has been alleged.

"The company had availed of some financial assistance from the erstwhile Global Trust Bank which is a subject matter of dispute. Erstwhile GTB (now Oriental Bank of Commerce) has already filed a suit for the recovery of the disputed amount with the Debt Recovery Tribunal, Bangalore. The matter is subjudice and there is no criminality involved in it," a statement issued by spokesperson of Shonkh Technologies International Ltd said. The statement also said that so far it has not received any such notice from the authorities concerned.