DSQ Software Ltd, established in 1992 and headquartered in

Chennai Chennai (, ), formerly known as Madras (List of renamed Indian cities and states#Tamil Nadu, the official name until 1996), is the capital city of Tamil Nadu, the southernmost states and territories of India, Indian state. The largest city ...

formerly

Madras Chennai (, ), formerly known as Madras ( the official name until 1996), is the capital city of Tamil Nadu, the southernmost Indian state. The largest city of the state in area and population, Chennai is located on the Coromandel Coast of th ...

, India was a publicly listed IT and Software services consulting company mainly operated overseas using its base in India. DSQ was in the league of IT companies established and operating from India during the tech-boom of 1990s, that mainly catered demands from western markets. Company was known as Square D Software Ltd when it was incepted in 1992 and later on changed its name to DSQ Software in the year 1997. The Company offered service offerings in

Mainframe A mainframe computer, informally called a mainframe or big iron, is a computer used primarily by large organizations for critical applications like bulk data processing for tasks such as censuses, industry and consumer statistics, enterprise ...

and

Midrange In statistics, the mid-range or mid-extreme is a measure of central tendency of a sample defined as the arithmetic mean of the maximum and minimum values of the data set: :M=\frac. The mid-range is closely related to the range, a measure of st ...

computing,

Telecommunications Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that fe ...

, CAD, and various other IT service areas. DSQ had clients in US, Europe and Asia Pacific and employed around 2000 people in the year 2000 and reported revenues in the region of $150m for the same year.

Hewitt Associates Hewitt may refer to: Places ;United Kingdom * Hewitt (hill) This is a list of Hewitt mountains in England, Wales and Ireland by height. Hewitts are defined as "Hills in England, Wales and Ireland over two thousand" feet in height, the ...

, a leading US based

Human Resources Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include m ...

consultancy firm valued the human resources capital of DSQ at $1bn. DSQ had an impressive list of international clients and it posted year-on-year increasing revenues till year 2000. Dinesh Dalmia, Company's promoter and Managing director got entangled in a series of share market controversies in relation to various dubious acquisitions and partisan allotments made by DSQ in the year 2000 & 2001. From the year 2002, DSQ's market presence diminished when its lucrative operations and client service contract agreements were sold to a privately held company. Year 2003 saw DSQ's collapse and there was very minimal business activities as the promoter was rumored to have disappeared from the scene in order to avoid legal proceedings. Dalmia got arrested at

Delhi Delhi, officially the National Capital Territory (NCT) of Delhi, is a city and a union territory of India containing New Delhi, the capital of India. Straddling the Yamuna river, primarily its western or right bank, Delhi shares borders w ...

, India in 2006 for various fraud charges. It is believed that Dalmia was in the United States from 2003 to 2006 trying to establish presence in the BPO market by setting up businesses using proxy names and deals. He was constantly seen in the New Brunswick area of New Jersey driving luxury cars and often eating at Udipi Cafe. He has been indicted in 2006 by the FBI in the United States on multiple charges of fraud. However, in the year 2011 he has been released on bail in all cases in India. There are rumors that he has also entered into a settlement in the United States. DSQ Software is operationally dormant as per the trading information submitted for the year 2005. As per

BSE BSE may refer to: Medicine * Bovine spongiform encephalopathy, also known as mad cow disease, a neurodegenerative disease of cattle * Breast self-examination Stock exchanges * Bahrain Stock Exchange, Bahrain * Baku Stock Exchange, Azerbaijan ...

data, the public holding in DSQ Software is over 70% and equity capital of over Rupees 300 million. During Oct 2013,

SEBI The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance within the Government of India. It was established on 12 April 1988 as an executive ...

barred Dinesh Dalmia and DSQ Software for a period of 7 years.

References

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External links

Sucheta Dalal :DSQ Software Saga
Software companies of India Companies based in Chennai Software companies established in 1992 Indian companies established in 1992 1992 establishments in Tamil Nadu Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange