Joshi plays down liability, says has plan to overcome crisis

NAGPUR: Shreesurya group chairman SameerJoshi issued a letter on Monday evening clarifying that the group was stable and a balanced enterprise. He said reports of it being in trouble was a conspiracy by the unnamed "blackmailers" to defame it. He said the group had consistently grown in last seven and half years in establishing their products - a range of edible oils, packaged drinking water, restaurants, travel advisory, healthcare and retail.

Joshi also called up TOI office stating he would be back by Wednesday and would conduct a press conference to clarify his stand. Earlier, his kin told TOI he was not keeping well since last four days due to all these developments and was admitted to the hospital. "Our assets today stand at Rs 50 crore while liabilities including borrowing from well-wishers and associates do not exceed Rs 70 crore," Joshi said while denying he had liability of over Rs 1,000 crore.

He appealed to his investors and associates not to fall prey to false and malicious rumours being spread by blackmailers. He also stated he would be available in the office on every Wednesday and Friday between 3pm and 6pm to meet the investors and assured that the present crisis was a 'temporary situation' created due to recession in global markets.

"As a responsible enterprise, we have the strategy to overcome this crisis. The investors will not be put to any losses and capital investments would be returned in a phased manner," he said while concluding his letter that mentioned his mobile number (9371136667) and address as Plot No 90, Vidya Vihar Colony, at Pratap Nagar in city.
Courtesy:
TNN | Aug 13, 2013, 01.47 AM IST
http://timesofindia.indiatimes.com/city/nagpur/Joshi-plays-down-liability-says-has-plan-to-overcome-crisis/articleshow/21789364.cms