DSQ Software
Formerly | Square D Software Ltd |
---|---|
Company type | Publicly listed traded |
Industry | IT Services |
Founded | 1992 in Chennai, Tamil Nadu, India |
Founder | Dinesh Dalmia |
Defunct | 2004 |
Fate | Defunct (Services and operations were privately sold in 2003) |
Successor | Scandent Solutions, later became Cambridge Solutions, acquired by Xchanging Plc, acquired by CSC now operating as DXC Technology |
Headquarters | Chennai , India |
Area served | International |
Number of employees | 2000+ (2001) |
DSQ Software Ltd, established in 1992 and headquartered in
The Company offered service offerings in
Promoter-led issues
Dinesh Dalmia, Company's promoter and Managing director got entangled in a series of share market controversies in relation to various partisan share allotments and transfer of equity made by DSQ from the year 1998 through to 2001.[7] [8]
Dalmia got arrested at Delhi, India in 2006 for various fraud charges.[9] It was later established that Dalmia was in the United States from 2003 to 2006 trying to perpetuate fraud in computer equipment leasing market by setting up businesses using fake names and deals purportedly money laundering.[10] He was constantly seen in the New Brunswick area of New Jersey driving luxury cars and often eating at Udipi Cafe. He has been indicted in 2006 by the FBI in the United States on multiple charges of fraud.[11] However, in the year 2011 he has been released on bail in all cases in India. There are rumors that he has also entered into a settlement in the United States. [12] Some social commentators see lack of corporate goveranance more as a part of a broader problem relating to India's family-owned corporate environment. DSQ is cited in the list of major corporate scams of India, along with Satyam Scandal.[13]
During Oct 2013,
References
- ^ "DSQ Software Official Website Ltd". Internet Archive. Archived from the original on 19 May 2000 – via Wayback Machine.
- ^ "DSQ Locations". Internet Archive. Archived from the original on 21 August 2000 – via Wayback Machine.
- ^ "DSQ Historical data". Internet Archive. Archived from the original on 28 October 2010 – via Wayback Machine.
- ^ "DSQ Services data". Internet Archive. Archived from the original on 21 August 2000 – via Wayback Machine.
- ^ "DSQ Financial Data". Internet Archive. Archived from the original on 8 April 2001 – via Wayback Machine.
- ^ "DSQ Brochure data". Internet Archive. Archived from the original on 21 August 2000 – via Wayback Machine.
- ^ "ADJUDICATION ORDER NO. PKK/AO/98/2011" (PDF). www.sebi.gov.in. Retrieved 19 April 2021.
- ^ "SEBI Order Prohibition of Fraudulent and Unfair Trade Practices against DSQ Software Limited and Shri Dinesh Dalmia, Director". www.sebi.gov.in. Retrieved 24 April 2023.
- ^ "CSE scam kingpin Dinesh Dalmia held". Business Standard India. 14 March 2006 – via Business Standard.
- ^ "$19 Million Equipment Lease-Financing Scam" (PDF). www.justice.gov. Retrieved 24 April 2023.
- ^ "Dalmia Indictment" (PDF). www.justice.gov. Retrieved 25 April 2023.
- ^ "DALMIA SCANDAL". www.indianmirror.com.
- ^ "Analysis of Major Corporate scandals in India" (PDF). thelawbrigade.com.
- ^ "SEBI bars DSQ Software, Dalmia from capital markets for 7 yrs". The Hindu. 4 October 2013 – via www.thehindu.com.
- ^ "Sebi slaps Rs 1 cr fine on individual in DSQ Software case". The Times of India. 18 January 2019.