Great point. I guess the curious thing then is why CTF released an announcement on the ASX company announcement platform on 30 August 2007 stating that '...the court found that parts of the announcement (27-29 September)constituted misleading and deceptive conduct'.
On 30 November this year the court dismissed seperate proceedings brought against Mr Ravi Narain.
It looks like ASIC went after Citrofresh and Mr Narain. CTF were found guilty and Mr Narain was not. The ASIC release with regards Mr Narain did make an interest point'...His Honour did not make any specific findings regarding the statements in the 27 and 29 September letters and said it was not necessary to rule on the question whether Mr Narain had failed to exercise his duties as a director with reasonable care and diligence'.
CTF Price at posting:
0.0¢ Sentiment: None Disclosure: Held
