8K Miles Software Services promoter Venkatachari sought legal recourse against Quantum Global Securities

8K Miles Software Services Friday said its promoter Suresh Venkatachari has sought legal recourse against Quantum Global Securities and Kumar Share Brokers after 25.70 lakh equity shares held by him were "wrongfully and illegally transferred through off-market transactions".

In a BSE filing, the company said it has been informed that 25.70 lakh equity shares (8.42 per cent of total equity holdings) held by Venkatachari in his demat accounts held with Quantum Global Securities and Kumar Share Brokers have wrongfully and illegally transferred through off-market transactions.

The transfer, done on various dates, was made to various parties without Venkatachari's knowledge/consent, it added.

"...he has taken legal action and has also filed a police complaint on September 17, 2018, against Quantum Global Securities, and Kumar Share Brokers and others for fraudulent and unlawful transactions by wrongfully and illegally transferring his shares of the company," it said.