EXHIBIT - I

THREE P CONSULTANTS PVT. LTD.

B-5, Lok Bharati Complex,

Marol Maroshi Road, Andheri (E),

Mumbai - 400 059. INDIA

Tel. : (91-22) 850 5800

Fax : (91-22) 850 6663

E-mail : contact@3pjobs.com

Web : www.3pjobs.com

3P

Mr. Neeraj Rathi

Applitech Solutions Ltd.

Ahmedabad

June 6, 2002

Dear Neeraj

Order execution system

This has reference to

• Your email dated may 25, 2002
• Visit of your Mr. Shahid & Mr. Sudhakar to our office on May 25, 2002
• Our legal letter dated December 21, 2001
• Our legal letter April 4, 2002

We are indeed shocked and surprised that, instead of offering to compensate us for the business losses suffered by us as a result of your delayed delivery of an incomplete and defective Order execution system, you are asking us to clear the outstanding amount immediately “so that our relations are not spoilt”!

Perhaps, even at this late stage, you do not realize let alone appreciate-that we are the aggrieved party. On top of this, when Mr. Shahid ended the meeting on May 25, he threatened to send us a legal notice – which I eagerly await. That would enable us to decide our own future course of action.

During Mr. Shahid’s visit, we had handed over to him

 

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(The U. S. alliance firm of KPMG Peat Marwick LLP)

3P

• New Annex- C (Errors discovered in the software since your last visit to our office on Feb 6, 2002, along with your Mr. Sharma)
• Latest position of Annex- D
• A statement of as many as 10 (Ten) software patches sent to us between June 2001 (the date of professional sign- off) and May 2002

We offered to give a live/on-line demo of all the pending problems to Mr. Shahid, which he declined! In light of this background of repeated failures on your part to set right the system software and the threat held-out by Mr. Shahid, we feel constrained to advise you through this email, that

• We reserve our right to carry-out the necessary changes/modifications to the software on our own, to make it work properly.
• We reserve our right to raise a claim on you for the efforts/costs involved in carrying-out such changes/modifications on our own.
• We reserve our right to claim appropriate re-imbursements from you, for the business-losses suffered by us so far- and likely to be suffered by us in the future, as outlined in our letters dated December 21, 2001 and dared April 4, 2002.

With regards

H.C.Parehk