Prithvi Info Solutions: US Court issues arrest warrant against Madhavi Vuppalapati

The King County Court, Washington has issued an arrest warrant against Madhavi Vuppalapati, founder of Prithvi Information Solutions for her ‘wilful’ failure to appear and submit relevant documents before the Court


The Chief Civil Judge of the King County Court, Washington has issued arrest warrant against Madhavi Vuppalapati,  founder of the once high flying Prithvi Info Solutions Ltd for failing to appear before it and abide by legal process.

The Judge in an order issued on 16 October 2014, said, "Contempt in this case is established by Ms Vuppalapati's wilful failure to appear before this Court, her failure to produce the documents, records, information, and tangible items she has been repeatedly ordered to produce and on her failure to answer the questions during her examination she has repeatedly ordered to answer."

The Court was waiting to receive a copy of her passport. Once it goes into the national database she will be taken into custody if she tries to board any flight that flies within the US or even flies through US airspace.

According to sources, on 10th October, Madhavi had reached the US from India to attend her deposition on 13th October as ordered by the Court. However, it is not clear if the founder of Prithvi Info Solutions, was still in the US.


The case related to a suit filed by Kyko Global seeking to recover damages of over $18 million from Prithvi Info Solutions, which was once a high-flying part of India's software story and had been purchased by many top foreign funds.


As reported by Moneylife in November 2011, Prithvi Info Solutions entered into an agreement with Kyko Global Inc, a Canadian company, for certain factoring services.


Prithvi was to sell to Kyko some of its customer account receivables for IT services and authorise direct payment on those customer accounts receivable to be made to Kyko.

When Kyko tried to contact the alleged customer companies directly for payments, it discovered that some of them were associates of Prithvi, who had posed as clients and created and executed the verifications. In order to get the money back, Kyko filed a lawsuit on 16 June 2013 against Prithvi Information Solutions at the US District Court in Seattle.

In the lawsuit, Kyko alleged  that, "To further secure the amounts owed to Kyko, on or about 29 March 2013, Madhavi, Pandyar and Sista agreed on behalf of various affiliated companies of Prithvi Info Solutions to enter into a cross-guarantee promising to pay on demand the full amounts owned to Kyko. The cross-guarantee was signed by Madhavi, Pandyar and his wife, Sista and their affiliated companies, Catalytic, Prithvi Solutions, Prithvi Info Solutions, Inalytix Inc, Ananya and Avani. Each of these cross-guarantors promised 'on a joint and several basis, to guarantee the obligations of each debtor to Kyko in respect to the payments of all the accounts each debtor'."

"In reality the cross-guarantees were yet another component of defendants' fraudulent schemes, and an attempt to conceal the scheme and ultimate truth of the scam from Kyko," the Canadian company alleged in its complaint.

In September 2013, Kyko filed a Writ of Garnishment against Prithvi Information Solutions. Kyko claimed damages of $18,431,765.90 ($18.43 million) inclusive of balance of judgement, prejudgement interest and interest of judgement from 9 June 2013 to 23 September 2013.

In the Writ of Garnishment, Kyko had named Prithvi Information Solutions Ltd, Prithvi Catalytic Inc, Prithvi Information Solutions International LLC, Prithvi Solutions Inc, Inalytix Inc, International Business Solutions Inc, Avani Investments Inc, Ananya Capital Inc, Madhavi Vuppalapati and her husband Anandhan Jagaraman, Guru Pandyar and his wife Arundathi, Srinivas Sista and his wife Lalita, DCGS Inc, EPP Inc, Financial Oxygen Inc, Huawei Latin American Solutions Inc and L3C Inc.

Earlier in April 2014, following directions from a US District Court to recover money, the Sheriff from King County auctioned personal assets of Madhavi Vuppalapati, founder of Prithvi Info, to recover $17 million.

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Jackie Johnson

2 years ago

I was working for Prithvi in October 2013 as a telcom field tech in North Carolina on an Ericsson project when Madhavi Vuppalapati pulled of her fraud. She left the USA owing me over $2500.00 in wages. I as well as about 2 dozen other techs filed against her through the Department Of Labor but after 3 years we have not been payed. I hope sometime soon she is arrested for her crimes.

Wassi Mysan

4 years ago

I invest my 2 year with PISL, Prithvi Information AND Solution Limited.

At the last No PF as mentioned in salary slip.

Warburg Pincus invests Rs1,200 crore in Kalyan Jewellers

Kalyan Jewellers has received Rs1,200 crore investment from private equity firm Warburg Pincus, in return for a minority stake


Private equity firm Warburg Pincus has invested $200 million (about Rs1,200 crore) in Kerala-based jewellery manufacturing and marketing firm Kalyan Jewellers. The PE firm would get a minority stake in Kalyan Jewellers in a deal that is largest PE investment in this segment in India.


The company is planning expansion of outlets both in India and abroad and is eyeing a revenue of Rs25,000 crore. With 55 exclusive outlets in India, across South India and Maharashtra, Gujarat, National Capital Region (NCR) and Punjab, Kalyan Jewellers is looking at expanding the number of exclusive outlets in existing markets as also foray into newer regions with emphasis on the North and the West of the country.


“Warburg Pincus’ investment in Kalyan Jewellers is the largest private equity investment into the jewellery industry in India,” Vishal Mahadevia, Managing Director and Co-head India, Warburg Pincus, said in a statement.


The company has been engaged in brand building exercise with top Bollywood actors Amitabh Bachchan and Aishwarya Rai Bachchan representing the brand nationwide, since 2012.


Founded in 1993 and headquartered in Thrissur, Kalyan Jewellers is into jewellery manufacturing and distribution.


Jindal Steel hits 52-week low as CBI files fresh case

Jindal Steel and Power is already facing CBI probe for alleged cheating and misrepresentation of facts in bagging the Amarkonda Murgadangal block in Birbhum district of Jharkhand in 2008


Jindal Steel and Power Ltd shares fell by over 13% in early trade Monday on the BSE and National Stock Exchange (NSE), following news reports about the Central Bureau of Investigation (CBI) filing fresh case against the company.


The Investigating agency, which is probing into coal blocks allocated during 1993-2005 period, filed a fresh case of alleged cheating and corruption against the company.


Following this, the company’s scrip fell 13.57% to Rs128 — its 52-week low on the BSE. On the NSE, it slumped 13.51% to hit a one-year low of Rs127.70. The scrip was the top loser among 50-Nifty scrips.


Later, the stock pared some of the losses and at 3.29pm was trading at Rs136, down 8%, on the BSE.


According to a CBI spokesperson, it is the 36th first information report (FIR) filed by the agency in connection with its probe in the coal allocation scam.


The fresh case has been registered against Jindal Strips Ltd (now known as Jindal Steel and Power Ltd) and unknown public officials for alleged criminal conspiracy, cheating under the Indian Penal Code and Provisions of the Prevention of Corruption Act, CBI said.


Soon after registering the case, the agency on Sunday carried out searches at four locations in Raigarh in Chhattisgarh.


CBI sources said the case pertains to allocation of Gare Palma IV/1 coal block to Jindal Strips Ltd and JSPL.


The company spokesperson had said JSPL reiterates that all its actions are in keeping with the legal framework of the country and that it complies with the law in letter and in spirit.


“JSPL continues to cooperate with all the authorities in a responsive manner,” the spokesperson had said.


The company is already facing CBI probe for alleged cheating and misrepresentation of facts in bagging the Amarkonda Murgadangal block in Birbhum district of Jharkhand in 2008.


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