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Share denies closure rumours

The promoters of, the horizontal portal, have said that there are no plans to shut down operations. The site, however, continues to be inaccessible even as there are reports that employees have been retrenched and that bonuses for the current year are not being paid.

According to industry sources the portal is planning to revamp some sites and, therefore, some of them are currently not operational. However, the mail service is expected be up and running by October 29. An interim site will be hosted for the next five days.

The company has been "considering'' the sale of the portal for some time now. Chalomumbai, the Tatas and Business India were once touted as potential buyers but nothing has materialised so far. The company is in talks with two or three parties but has a non-disclosure agreement with the parties concerned; hence the deal details cannot be specified.

In March, had undergone a massive round of retrenchment, which included the departure of its then CEO, Mr Digvijay Singh.

The incumbent CEO, Mr Sanjay Krishnan, had then stated: ``The realignment has been undertaken to shift focus from the portal business to technology. The portal will continue as the flagship operation but Internet Resources Pvt Ltd (IRPL), the technology-focused subsidiary of Inc, will be the main focus of the future. And, monies will be pumped into Entropy, our recently launched full service offering solution."


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