ABS Systems owner absconding after Rs 2.5 crore payment default

Mumbai: The new year seems to have brought with it some bad news for the channel in Mumbai as well. It has been reported that the proprietor of ABS Systems has fled after defaulting payments amounting to approximately Rs 2.5 crore. Industry people believe that close to 25-30 partners are waiting to receive payment from the company.

According to a source, Seth and his family is now absconding. He had informed his father that he was shutting down his business due to credit issues.