Windows Phone Thoughts: iMate Continues Business

"To safeguard the brand and assets of i-mate these have been acquired by a new company Hillfoot Limited which will continue to trade as i-mate with operations in Australia, Taiwan, the UK and USA. The new company will be led by Jim Morrison, Chief Executive who has committed to stay until normal trading is resumed and the financial infrastructure is established to take the business forward.."

It looks like iMate will continue to exist, just not in India.