Dear investors in Teledata/Esys. This court order does not means much as we have already informed that all the money has been laundered to 100’s of Niraj Goel companies in Dubai, Russia and India.
The company Strategybot used to launder this money is owned by Mr Jahangir who is car driver of Mr Niraj Goel and another guy Mr Kamaljeet Singh Cheema is warehouse guy being used as proxy Director for 15 odd fraud companies of Goel brothers.
As we have been telling all our readers that promoters of these two companies have been ripping off investors in India and have been doing money laundering in Singapore, Dubai, Europe and Russia. Russia has been used extensively to route this illegal money. Now the press all over the world is reporting about the frauds of Goels brothers and Teledata.
We have another very sad news for Teledata which we will publish very soon. We have collected number of cases filed against promoters of Teledata from Chennai and it is very surprising that a company with so many fraud cases already was given Bank Loan of USD 80 million dollors. No wonder they got in bed with Vikas Goel and Niraj Goel.
ICRA has also given lowest possible rating for Teledata bank Loans and instalments of these Bank loans are long overdue. Obvisiously Bank will now try to recover their money from pledged shares of Esys Singapore and then Banks will find that all companies for which Banks held the shares as security have been fradulently transfered.
We had already told our readers about the mareva injuction against Vikas Goel and that he has surrendered Singapore residency in November last year to avoid Singapore Jurisdiction.
Today newspaper from Singapore has already published long news on Vikas Goel and now newspaper from Europe have also picked up this news.
Esys boss’ assets frozen
April 23,2009 – 7:00 :: Miscellaneous
Middle and Far East : The Singapore High Court has frozen the assets of Indian entrepreneur Vikas Goel, under an ongoing legal dispute between his company, eSys Technologies, and disk-drive manufacturer giant Seagate Technology. According to court documents, the court approved last November a Mareva injunction application by Seagate Singapore to prohibit Mr Goel from disposing his assets in Singapore. The Mareva injunction is a court order that freezes assets so that a defendant cannot transfer his assets beyond the jurisdiction of a court until the outcome of a lawsuit is decided. Esys lawyers declained to comment.
Seagate Singapore International Headquarters is suing eSys for more than EUR3.2 million ; in addition, Seagate and affiliates are suing Mr Goel, who is the personal guarantor for eSys’ debts, for about EUR46 million, according to documents filed three years ago. Seagate subsequently filed an additional claim of about EUR58 million for sales incentives previously given to eSys, after eSys admitted in court to ‘false POS’ (point of sale).
Seagate’s lawyers also filed for an injunction against the Indian firm when it had emerged that a so-called ‘independent fact-finding committee’ appointed by eSys had sent letters to individual Seagate
staff, which ‘had the effect of harassing and intimidating the employees’, according to affidavits filed by the Seagate employees. Some of the Seagate staff also received ‘legal notices’ from lawyers in Pakistan, Bangladesh and Sri Lanka on behalf of eSys, the documents showed.
Beside this, Teledata, currently Esys parent company, has seen its short term loan rate lowered to A5 by ICRA, an Indian rating agency, which is the lowest short term rating existing. This is to reflect, according to rating agency, the fact that Teldata may have difficulties to reimburse banks. Teledata has failed to honour its Bank Guarantees worth EUR3.7 million and also unable to pay instalment of Term loan of EUR61.5 million, raised for acquisition of majority stake in Esys. We are still waiting for Esys representatives, owners or lawyers to answer our questions, which they currently seemingly prefer to decline… (source : Today Online Singapore).
