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Home  » Business » Polaris executives to arrive on Tuesday night

Polaris executives to arrive on Tuesday night

December 24, 2002 20:17 IST
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After their eleven-day ordeal involving arrest and captivity in Indonesia following a commercial row with a Jakarta bank, software major Polaris chief executive officer Arun Jain and vice president Rajiv Malhotra will arrive in Chennai on Tuesday night as their passports were handed over to them earlier in the day.

The two executives left Jakarta at 1545 hrs (Indonesian time) for Singapore en route to Chennai and were expected to reach here by 2155 hrs, Polaris officials said.

Jain and Malhotra had gone to Jakarta to negotiate a commercial deal with the Bank Artha Graha which had terminated the consultancy contract and demanded a huge compensation.

The agreement with the bank provided for arbitration in Singapore in the event of any dispute.

The two Indian executives were first held captive by the bank authorities on December 13 and later arrested by the police. They were taken to a police detention centre.

However, the Indonesian police released them on December 20 following high level diplomatic intervention by India but held back their passports.

External Affairs Minister Yashwant Sinha had taken up the issue with his Indonesian counterpart.

Their passports and other travel documents were returned to them early on Tuesday.

Indian Charge de Affairs in Jakarta had assured the Indonesian authorities that the two executives would cooperate with the investigation.

The arrest of the executives created a furore in the Indian software community and Nasscom itself took up the issue with Union Information Technology Minister Pramod Mahajan.

UNI

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