Long time....

[Ravindra Beleyur]

Dear members,

I apologise for not sending any e-mails for quite a long time.

Our Annual General Meeting would be held on 17th November, 2013 at the usual Rama-mandira - Chamarajpet.

There has not been much development in the recent past related either regarding the case before Supreme Court or regarding the cases filed by SFIO and CID before the Courts in Bangalore.

We have been continuously following up with the Ministry of Corporate Affairs and the Serious Fraud Office to re-investigate into the affairs of Megacity since the Investigation conducted does not list down all the lands and assets owned by Megacity - this is with an intention to make sure it has sufficient lands/assets when the Supreme Court makes its final decision. 


We have also lodged a complaint before SEBI to look into the possibility of viewing this from the Statute regarding Collection Investment Scheme.(CIS) ( Somehow, I had not thought about from this perspective. But, while doing some research for advising a client regarding this, I came across these rules which I think has relevance for Megacity also). It seems SEBI is writing a case regarding this for taking a legal opinion whether this could come under CIS. We are also exploring the possibilities of relating this case from the angle of connecting to the Prevention of Money Laundering Act (since all Yogeshwara's assets are bought out of 'Proceeds of Crime'.).

Nothing much has happened regarding the 'Disproportionate Assets' case filed before the Karnataka Lokayukta since Lokayukta was not there for almost two years and there could be some sort of logical end before this year end.

I suppose, I have shared the news regarding out ability to get the locked up funds at Canara Bank, BEML Nagar - which had got stuck for more than 5 years and we have paid the fees of the advocate which was pending for more than 5 years out of the funds which go released.

Notice of meeting, Audited accounts for the year 2012-13 and the annual report would be sent to you before 26th October, 2013 for the Annual General meeting to be held on 17th November, 2013.

I look forward to see you at the AGM

With best regards,

Ravindra Beleyur

[Ferooza Eswaran]

IS there any hope?

When do we get the Supreme court to look at this?

Ferooza

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Ferooza Eswaran
6262 S.Jamaica Ct
Englewood CO-80111
303-694-0955
303-304-0170(cell)

[Ravindra Beleyur]

Dear Ferooza,

Of course, all our efforts have to bear fruits...it may take time...

I am quite optimistic especially when we have seen- Lalu is in jail, Janardhan Reddy in jail, Supreme Court and SEBI being quite firm on directing Sahara to refund money with 15% p.a. interest to the affected investors...