Deepak Agarwal, founder of Choxi, accused of fraud – Update, Case Settled

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New York, July 2019 update received from the attorney of Deepak Agarwal — On December 4, 2018, Tracy Klestadt, the Plan Administrator in the bankruptcy case In Re Choxi.com, Inc., Case No. 16-131131, filed an adversary proceeding (Adv. Pro. No. 18-01974 (SCC)) against Deepak Agarwal, Melina Ash a/k/a Melina Agarwal, Sheela Agarwal, Vipesh Agarwal, Vishal Agarwal, Daniel Depina, DIYA Irrevocable Trust, and Depina Consulting, LLC (the, “Agarwal Defendants”), and certain other defendants.  The Agarwal Defendants responded to the proceeding by filing a motion with the U.S. Bankruptcy Court for the Southern District of New York, setting forth certain defenses, and requesting that the court dismiss the proceeding with respect to the Agarwal Defendants.

The Plan Administrator and the Agarwal Defendants have now reached an agreement to dismiss the adversary proceeding with respect to the Agarwal Defendants. The agreement states that the Agarwal Defendants make no admission or concession as to liability whatsoever as to the allegations set forth in the proceeding.