AskMe.com runs out of cash; holds back salaries, vendor payments

E-commerce shopping listing firm AskMe has stopped paying salaries to its employees and has also holding back vendor payments, a Business Standard report said. 

According to the report, the e-commerce company has reportedly run out of funds, and its majority shareholder Astro Overseas, has refused to dispatch the final tranche of cash that was likely to come by July 31. 

July 31 has come and gone, but there's been no money from Astro. In a last ditch, desperate effort, AskMe wrote an email to its employees and vendors, asking them to email or message Astro, to pressurise the company to pay up. 

However, its 2,000-strong workforce is confused why they should be writing to Astro, when Getit had bought AskMe in 2013, the report said. 

This isn't the first time that the company has failed to pay vendor dues. In fact, several employees at AskMe are planning to resign or are only waiting for their salaries to arrive, so they can quit. 

The report quoted a senior executive at Ask me as saying, apart from the present salaries, some employees who were let off in February, have still not been paid their full and final settlement.