Adcom denies closure allegations

Retorting to a news report on the closure of its branches, Adcom dismissed
the whole story as ‘false’.

According to Sanjeev Bhatia, Director, Adcom, "None of the news about
closure or financial crisis or Kobian court case is true. Kobian has never
filled any court case against Adcom or Advantage. All the accounts with Kobian
were settled long time ago. There is not any sin-gle branch closed by Adcom and
there are no plans for any closure either. Adcom has appointed C&F at some
loca-tions, which are addition to new and existing branches."

He further added, "Adcom is growing, there are absolutely no financial
crises and moreover Adcom is blessed with a lot of faith, loyalty and reputation
from its channel across the country, which will never be carried away by such
senseless rumors. No one can stop rumors but it is very sad if channel magazine
are so irresponsible to print or publish any thing senseless and without any
base."

"We are filing a defamation case against the newspaper and have issued
them a legal notice as their news is totally baseless and far away from
truth," he said.

DQW News Bureau

New Delhi