Videolocity International Inc (VCTY)

[fear ceoil]

Court means nothing without a judgement.

Just because a company is in court does not necessarily mean it is wrong or right by default. It simply means it is in a dispute with another company or person.

Even though its a mere 6K, Avtar has every right to refuse or protest it if it has determined the charges were not part of the contract. From our end, we might say, well, why don't they just pay it. That might be easy enough to do, but that sets a company up for pillaging in future disputes. Perishing by means of Pirahnas is never the ideal way to go. Individual bites may not kill you, but enough of them certainly leads to something rather painful, gruesome, and from the onset preventable.

On the liquidation court, that could be an issue if it is interpreted from the standpoint that there were preliminary steps taken prior to this. This could simply be the quickest venue for matters that potentially lead to some liquidity of a company. Unless you are a lawyer practicing in India or professor of Indian law, it would be advisable to refrain from conjecturing about how legal proceedings occur there. IMO.

Besides this has been addressed in a publicly available statement already.

Best to all.