winds up winds up

Author | NULL | Monday, Jan 01,1900 8:34 AM

A- winds up is winding up its online travel operations offered through, a company it acquired through a stock-swap deal last year. has laid-off close to 30 employees of net2travel that it had absorbed after acquiring the latter.

During the acquisition of net2travel, three shares of were exchanged for one share of According to, the shareholders of net2travel have not yet sold their shares to Star. As a result Star does not still possess 100 per cent equity of

“ believed in the business and supported to the best of its ability during the last eight months. However, its performance is not quite up to indya’s expectations and therefore did not justify any further investments,” CEO Sunil Lulla.

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