denials of the superbly researched NYT investigative story seem simply to expose it further. It has been unable to say anything in its defence. There are rumours that further evidence regarding its activities may surface after details of the FIA’s visit become public. The Senate has also stated that a standing committee would be set up to look into what is one of the biggest scandals to shake a country accustomed to scams of many different kinds. This one, however, could outweigh them all.
What we also need to ask is why the truth about Axact did not surface earlier. It is hard to believe our investigative agencies were totally blind to what was happening. Reports have suggested that Axact paid only Rs2 million in corporate taxes last year and had only Rs6 million in paid up capital. The Axact CEO Sohaib Ahmed Shaikh was reported to have paid just Rs24 in tax for the same year. For a company that in its legal notice issued to NYT claims to be the ‘largest IT company in all terms - revenue, infrastructure and human resource’, these figures are astounding. The Axact affair has made the mainstream and social media buzz with activity. More people appear to be stepping forward to say how they were led astray by the slick marketing of the company. The onus is on Axact to disprove the detailed allegations on it. Since 2008, the company has continued to restrain newspapers from reporting on it through legal notices. On Monday, legal notices were issued to bloggers who had merely reported the response to the scandal. We are clear that the NYT report does not confirm guilt, and that only a thorough investigation by state investigators and a court conviction would do that. However, the Axact fake degrees scandal has already sent shock waves around the country. The fact that Axact is the official company backing the Bol Media Group is not going unnoticed either. The bottom line: serious questions have been asked about Axact’s money. Vague answers and blame game will not do.