Morepen Lab – Lacs of people were cheated.
Issue :
85000 FD depositers were simply cheated of their hard earned money kept as FD with Morepen Laboratories Limited, Himachal Pradesh. The company has been in default since 2003 (over 200 Crore) and kept on taking time (I have scores of mails, communications, tele conversation) every time we contacted for status. Till last moment they said they will pay, but never replied to mails. Without knowledge they made some representation with HP court which passed order on 4th August 2009 which were completely against the FD Holders.
Under the scheme they got passed with only 300 (out of 85000 FD Holders), 25% of principle to be waived off the principal amount, no interest and the balance 75% will be given in the form of shares at a price of 11.32 (Market price while giving was around 6.00 and now is hovering around Rs. 3.5.
Information taken from various sites – ROC Jalandhar (Dr Raj Singh) did not bother for these stakeholders, and did not send any representative (as I understand from various sites). Regional Director Corporate Affairs (Norther Region) Noida did not file any affidavit for objection with High Court, Shimla although some 5 opportunites were given. The case of FD scheme was not attended by ROC. Apparently there is complete connivance by these people including the judge (sorry this seems to be very high bhrashtrachar case).
I would like to file an RTI with High Court, Shimla wanting to know all the facts
a) The name/address/salary and othe details of the judge who passed this order (I anticipate he has been heavily bribed to give this verdict). It is possible in HP -anything.
b) The basis of arriving at this judgement. Complete case facts
c) From statutory organisations who all were sent notices, who all came, and were represented by whom, what their arguments were in favour/against. Basis of their judgement to arrive at the conclusion.
d) Why judge did not call all stake holders when Co. avoided it by manipulations. Everyone (I repeat 99%) have been affected.
e) Did the judge go beyond the basic like whether people have complained and their complaint has been addressed, if not what.
f) Auditors report of the company should also have been seen by the judge – which should show complaints and redressal – which also seems to have been fudged.
g) Many institutions were also stake holders. Who are they, who all were present and what they concurred.
h) Role of Dr. Raj Singh, ROC Jalandhar and Regional Director, Corporate Affairs (Northern India), Noida and their stands.
If there are any other questions that need to be added, please add. Please put a draft and file same with HC. I would like to expose this brashtachar.
Warm Regards
Krishnan.
you can get most of your answers by asking for a copy of the judgment which is normally put up on the website. most of your other questions amount to interrogation which is not allowed under RTI act. you can only ask information. besides, courts have been citing their own rules for providing information. many a time they do not abide by RTI Act although every citizen has the right to seek information from any source that is available to him or her
This is an issue involving thousands of people’s hard earned money. Hence it is necessary to get info. and then complain to higher authorities about the way it was all handled. Hence can you help get the judgement or let me know the site address and how to get the copy.
Many people like me would like to contribute to eradicate corruption and to start with it has to be from ones own backyard or own cases and also to know the process involved in getting details. Your forum provided the right opportunity to see how this could be startd off. Could you let all know what sort of information is possible, what is not – to start with. And how to ensure this is conclusively taken up for benefit of all.