Geodesic

Geodesic Limited was an India-based technology company that developed software products for mobile phones and desktops. Founded in 1999 as Geodesic Information Systems by Pankaj Kumar, Kiran Kulkarni, and Prashant Sharad Mulekar, the company initially launched an e-commerce portal and an interoperable instant messaging system. The company was headquartered in Mumbai and expanded to have offices in Bangalore, the US, Sweden, Hong Kong, and Singapore.

Geodesic's primary offering was the 'Mundu' suite of products, which included an instant messenger (IM), Voice over Internet Protocol (VoIP), internet radio, and email services available on both desktops and various mobile platforms like Symbian, Windows Mobile, and BlackBerry. The company targeted both institutional clients—such as financial services, manufacturing, and telecom operators—and retail customers through its website and partnerships. A significant acquisition occurred in 2007 when Geodesic bought Chandamama, an iconic Indian children's magazine, for Rs 10 crore with plans to digitize its content.

However, the company's trajectory shifted dramatically after raising USD 125 million in Foreign Currency Convertible Bonds (FCCBs) in 2008. The company defaulted on redeeming these bonds in 2013, leading to legal action from creditors, including Citibank. Subsequent investigations by Indian authorities, including the Securities and Exchange Board of India (SEBI) and the Enforcement Directorate (ED), uncovered a major financial fraud. The founders were accused of siphoning off the USD 125 million raised through the FCCBs into a web of shell companies via fictitious transactions. In 2014, the Bombay High Court ordered the company to be wound up, and an official liquidator was appointed. The company's directors were later arrested, and their assets were attached by the ED. The company was compulsorily delisted from the National Stock Exchange in 2018.

Keywords: mobile software, Mundu, instant messaging, VOIP, internet radio, communication software, Geodesic Information Systems, Pankaj Kumar, Kiran Kulkarni, Chandamama, FCCB default, financial fraud, liquidation, SEBI investigation, Enforcement Directorate, defunct company