Chennai, Dec 17: The Chairman and Managing Director of Chennai-based Polaris Software Laboratories Ltd, Arun Jain, was 'detained against his will' on Friday last by the police in Jakarta, Indonesia, while on a visit to a client's office to solve a commercial dispute, according to company sources. The Board of Directors met in Delhi in an extraordinary meeting to review the situation and appointed Govind Singhal, Executive Director, as acting CEO of Polaris, a press release from the company said here Monday.

"There is a specific provision in the agreement for arbitration in Singapore to settle any dispute and it is disturbing that our Chairman and a senior executive have been subjected to humiliating treatment for a commercial dispute", Singhal was quoted as saying.
According to the release, Arun Jain had travelled to Jakarta with his team of senior executives in charge of software development project for Bank Artha Graha, with which Polaris software had signed agreements in June and August this year, covering central processing, disaster recovery and branch server related works. Bureau Report