Karachi: Responding to the New York Times' (NYT) article, Axact issued an official response on its website, terming the story "baseless".

"Axact condemns this story as baseless, substandard, maligning, defamatory and based on false accusations and merely a figment of imagination published without taking the company’s point of view. Axact will be pursuing strict legal action against the publications and those involved," said the company's response.

They also claimed local media groups Jang and Express were running a "defamation campaign" against Axact and Bol.

The response also alleged that Declan Walsh had devised a "one-sided story" without taking any input from the company.

"A last-minute, haphazard elusive email was sent to the company demanding an immediate response by the next day to which the attorney for Axact responded."

The response also stated that, "in an exemplary display of poor journalistic skills and yellow journalism, the writer quoted references from several imaginary employees to corroborate accusations made out of thin air."

Axact also uploaded a detailed legal notice sent to NYT.

Aside from the release of its main report, NYT also published a separate post titled "Tracking Axact’s Websites” which listed "the sites for fictitious high schools and universities" that Axact is said to be running.

Explaining its investigation, the report stated that, "Some of the details came from interviews with former employees of Axact, who identified roughly 50 sites, along with servers used by the company and blocks of custom website coding it developed.

Starting from the list of employee-identified sites, The Times scoured the Internet for other sites that included similar technical details, servers, content and supporting links. More than 370 sites included at least some of those identifying components".

A detailed NYT report titled, "Fake Diplomas, Real Cash: Pakistani Company Axact Reaps Millions" written by New York Times Pakistan Bureau Chief Declan Walsh has outlined how local IT company Axact - referred to as the "secretive Pakistani software company" - allegedly earned millions of dollars from scams involving fake degrees, non-existent online universities and manipulation of customers.

The investigation asserted that Axact was involved in issuing fake degrees at a massive, global scale. It also raised questions about the funding by which the company was launching its upcoming media group Bol, referencing, "accusations by media competitors that the company is being supported by the Pakistani military or organized crime."