Chennai: Sitting over crucial information has become a habit with Polaris Software Lab. The latest is the arrest of its chairman and managing director and CEO Arun Jain and senior vice-president Rajiv Malhotra in Indonesia based on a complaint made by Bank Artha Graha, its client.

The two were arrested on 13 December 2002 (Friday) but the information was given out to stock exchanges and the media only on 16 December (Monday) evening. Even taking into account the intervening Saturday and Sunday, if only the company had taken the media into confidence immediately, public opinion and government action to secure the officials release from the Jakarta Police could have taken place much earlier.

Looking back, it is ironical that the company, accustomed to announce important developments at the last minute and take advantage of ensuing holidays, was affected by the same virus this time.

The very recent instance is the takeover of www.ibackoffice.com by Optimum Outsourcing Company, a wholly-owned subsidiary of Polaris. On 5 December, the company’s public relations cell and through its reputation management outfit mailed / faxed a release announcing the acquisition very late in the evening. No company official was available to answer any media queries — like the full name of iBackoffice.

When this correspondent called the company’s office the next day he was informed by a gruffy voice that the office is closed on account of Ramzan. And Optimus CEO Harpal Dugal, who was in Mumbai that day, was kind enough to remark: “There is a time to ask questions. Now it is 3.30 in the evening and it is a holiday and hence I cannot answer your queries.”

Prior to the Optimus episode on 26 October 2002, a Saturday, Polaris informed the media at 6 pm about its decision to call for a press conference at 8 pm that day to announce the final takeover terms of OrbiTech Solutions, a Citigroup company.

According to the officials, the press conference was convened suddenly to announce the decisions taken by the board, as the same had to be intimated to the stock exchanges and it would be too late for the dailies to report the same. What was left unsaid was that the company wanted larger column centimetres the next day rather than wait till Monday.

But even in the OrbiTech takeover, Polaris remained silent without informing its shareholders and investors about major happenings in the Citigroup company after the memorandum of understanding was signed in May 2002.

Similarly, in 2000, when Polaris decided to back out from acquiring Data Inc, the company did not inform the stock exchanges or shareholders for nearly two weeks after the decision was taken.

Perhaps this is image building — Polaris style.