148:, Xerox Corporation disclosed that Xerox ModiCorp had made "improper payments" to government officials and fictitious firms. A government probe later found Xerox Modi Corp had violated certain corruption laws and in May 2005 it was reported that action would be taken against the company. At this time Xerox ModiCorp announced its name change to Xerox India. After all these activities Modi Xerox closed its factory in Rampur. According to the Economic Times, Xerox Corporation owned 86% of Xerox India in March 2005 and is seeking 100% control. The remaining shares are held by Modi Rubber and private stakeholders.
502:
131:
in
September 1983. The share structure was 40% ModiCorp, 40% Rank Xerox and 20% private shareholders. It built upon an earlier co-operation, Indian Xerographic Systems, formed in 1982. Other partnerships included Modi Xerox Software Systems, created in 1995 and Modi Xerox Financial Services.
135:
Rank Xerox was absorbed into Xerox
Corporation in 1997 and Xerox obtained a majority stake in Modi Xerox in 1999. After obtaining majority ownership of Modi Xerox, it was renamed Xerox ModiCorp and the software and financial services operations were incorporated into the main business.
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In July 2002, during a troubled period for Xerox
Corporation after allegations of accounting irregularities by the
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Originally Modi Xerox, the business was derived from a joint venture formed between
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188:"Xerox Contact Details - All Department Emails & Phone Contacts"
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277:"Indian Govt to Form Inter-AGENCY Action Against Modi Xerox"
224:"Xerox says Indian unit made 'improper payments': Reuters"
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308:"Xerox looks to up stake in Indian arm to 100%"
346:Financial Express: "New reality bites BK Modi"
250:"Xerox made payments to fictitious firms: PwC"
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306:MK Venu; Rajeev Jayaswal (28 March 2005).
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542:Indian subsidiaries of foreign companies
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146:U.S. Securities and Exchange Commission
275:Asia Pulse Pte Ltd (24 January 2005).
202:"Complaint: SEC v. Xerox Corporation"
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30:Logo of the former name Modi Xerox
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501:
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557:1983 establishments in Haryana
537:Electronics companies of India
104:, is the Indian subsidiary of
1:
547:Companies established in 1983
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532:Companies based in Gurgaon
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23:
140:Financial Irregularities
336:Official Xerox homepage
113:Dr Bhupendra Kumar Modi
408:Godfrey Phillips India
464:Bhupendra Kumar Modi
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454:Krishan Kumar Modi
312:The Economic Times
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106:Xerox Corporation
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86:Xerox Corporation
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552:Modi Enterprises
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394:Modi Enterprises
385:Modi Enterprises
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283:. Archived from
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330:External links
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256:. 21 July 2002
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449:Gujarmal Modi
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444:Dayawati Modi
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287:on 6 May 2005
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230:. 2 July 2002
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418:Spice Global
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285:the original
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54:Headquarters
44:Company type
15:
423:Xerox India
125:Spice Group
96:, based in
94:Xerox India
71:Area served
19:Xerox India
521:Categories
469:Samir Modi
459:Lalit Modi
439:Charu Modi
341:Modi Group
281:Forbes.com
254:rediff.com
228:rediff.com
174:References
168:Fuji Xerox
163:Rank Xerox
129:Rank Xerox
48:Subsidiary
39:Modi Xerox
490:Modinagar
401:Companies
204:. Sec.gov
507:Category
413:ModiLuft
152:See also
121:ModiCorp
119:through
36:Formerly
317:27 June
291:16 July
260:16 July
234:16 July
208:16 July
98:Gurgaon
59:Gurgaon
432:People
127:) and
81:Parent
527:Xerox
483:Other
158:Xerox
123:(now
117:Dr. M
102:India
75:India
64:India
319:2012
293:2010
262:2010
236:2010
210:2010
115:aka
523::
310:.
279:.
252:.
226:.
100:,
62:,
377:e
370:t
363:v
321:.
295:.
264:.
238:.
212:.
190:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
