Mumbai, July 15: Even though there has not been any official announcement from India’s top distributor, what has been buzzing around the market seems to be true. India’s leading distributor Neoteric infomatic has decided to shut down their channel business.
This Mumbai based IT distribution giant had reported revenues of close to INR 2000 crore in FY15 and employed around 800 people. The services of the entire workforce were terminated as of June 30. Paras Shah, CEO, Neoteric Informatique who started as an IT dealer, has been working with 42 major brands.
“They initially started dismantling the team one by one. However, there were closures of branches. Even though the organization kept mum people on the closure, slowly the employees realized that the organization is not going towards positive”, said an employee from Neoteric’s close competition company. “The branch which were about to get closed were intimated a month earlier and all the employees are now moving to other organization even for lesser salaries”, said another former employee of Neoteric. However, it is said that the company has already started settling the salary and other entitles for the employees who left the organization.
Recently Neoteric has made many changes within the organization internally and has been on diversification including getting on to 3-D printing and forming knowledge consultancy for channel partners.
About Paras Shah:
Paras H. Shah is the CEO & Founder of neoteric infomatique. An alumnus of Case Western Reserve University, USA, he set-up neoteric infomatique ltd in 1997. Over the years, with his foresight and unflinching determination and passion to provide best quality IT products and services to Indian customers, neoteric emerged as one of the most respected IT Distribution organizations.
Data Quest honored him with the ‘Largest Growing Re-seller’ Award in 1994-95. He was also awarded the ‘Best 
Distributor Award for Demand & Lead generation’ in 2004 by IT Nation. TAIT, the first-ever Indian IT association was Paras Shah’s brainchild and he is one of its founding members. With his vision, ‘Evolve’, which was launched by neoteric as a value added program imparting techno-commercial training has now transcended into an Apple, Adobe, Avid and Autodesk authorized Training Centre in Mumbai, the first-of-its kind organization to be founded by an IT Distributor in association with Future Media Concepts (FMC), USA. He is also credited with setting up F1 Info Solutions and Services which offers a wide gamut of support services to neoteric’s direct & indirect customers.
Under his inspiring leadership neoteric infomatique limited has expanded its company operations to countries like Singapore, Dubai, Nepal, China and Hong Kong. Over the years neoteric has been recognized as the best distributor by many vendors including Apple, Lenovo, Alcatel-Lucent, Logitech, Hitachi, BenQ, Wacom.
No reply from Neoteric:
Neoteric was not available for any comments. We can update if the organization responds.