Ontrack Systems, an ICT company headquartered in Kolkata, is under severe financial stress and has till now not been able to obtain additional financing for meeting its financial commitments, leading to financial stress and cash flow constraints which has affected its normal operations. The company has been going through a bad patch in terms of margins and realizations over the last 36 months.
The company has approached its bankers to consider restructuring its working capital facilities. The company is also trying to leverage its real estate assets to infuse working capital and also looking for a strategic investor for infusing equity and participating in the management.
Ontrack Systems is a 25 year old ICT company head quartered in Kolkata with operations in UK, UAE, India and Australia. The company employs about 150 professionals and is in the business of providing turnkey ICT solutions to domestic and international customers.