Friday, January 13, 2006
SOS AND TOP PRIORITY MESSAGE FOR THE KIND ATTENTION OF THE HONORABLE CHIEF JUSTICE -SHRI BHAVANISINGH OF GUJARAT HIGH COURT
SOS AND TOP PRIORITY MESSAGE FOR THE KIND ATTENTION OF THE HONORABLE CHIEF JUSTICE – SHRI BHAVANISINGH OF GUJARAT HIGH COURT. EVERY MOMENT IS PRECIOUS
FROM:-
PANKAJ S MODY
2ND FLOOR, JANMANAGAL APT
40 BRAHMAN MITRA MANDAL SOCIETY
PALDI , AHMEDABAD 380 006
EMAIL : modyps@gmail.com
Dated January 13,2006
To,
SHRI BHAVANI SINGH,
HONORABLE CHIEF JUSTICE OF GUJARAT HIGH COURT
Sola – Gandhinagar Highway.
Ahmedabad
Email:- hcguj@guj.nic.in
Fax:- 079- 27494619, 079- 27494621
Respected Sir,
Subject:- Nirma Ltd Company Application COMA 358 of 2005
I am reminded of a dutch boy attempting to plug the dam with his fingers. In a way each and every human being needs to play such role in the larger interest of the society and in personal interest by blowing the whistle as loudly as possible.
It is with this object, I am making humble prayer to your Lordship in larger interest of the society and I would be pardoned of my inadequacies of making appeal to you through unusual approach. Kindly pardon me to take such unusual approach.
PRAYER:-
It is necessary to put in abeyance the sanction and approval of scheme of takeover of Core Healthcare management by Nirma Limited in light of their Company Application 358 of 2005 till the background information is examined in detail by Gujarat High Court and narrated as under:-
1. Nirma Ltd has filed COMPANY Application 358 of 2005 through their advocate Mrs. Swati Soparkar for take over the assets (valued around Rs 1000 Crores ) of Core Healthcare Ltd at around Rs 300 crores through demerger route.
2. At instance of Sessions Court of Ahmedabad , Anti-Corruption Bureau in Ahmedabad is investigating the collusion of Core Health Management ( Mr. Sushil Handa and others) with the bankers and the inquiry is under process.
3. Core Healthcare management through their advocate Mrs. Swati Soparkar had filed Company Application 357/2005 and Company Application 383/2005 and the matter came up for hearing before the Honorable Justice Shri R Garg on 9th January 2006.
4. I the undersigned, that is Pankaj S Mody had filed OJ Civil Application 1 of 2006 in Company Application 357/2005 and Company Application 383/2005 while serving copy of my Application to Mrs. Swati Soparkar of Core Healthcare well in advance.
5. The contents of my Application is an attempt to expose the malafide intentions of Core Healthcare management.
6. On 9th January 2006 , when Civil Application 1 of 2006 in Company Application 357/2005 and Company Application on 383/2005 came up for hearing before Honorable Lordship Shri R S Garg , Core Healthcare Limited withdrew their Company Application 357/2005 and Company Application 383/2005 so as to veil their misdeeds and thereby mislead the Judiciary as my oral submissions before the Court would have exposed their malafide intentions.
7. By Core Healthcare management preempting such on the spot withdrawal oral intimation, they took advantage of the Lordship being kept in dark and thereby making my application become redundant and void especially when I was appearing as Party In Person. As I was not a practicing advocate, I had to restrain my self so as to maintain the dignity and decorum of the Lordships. On the other hand, the Honorable Justice Shri R S Garg did not have sufficient time to pause, reflect and size up the repercussions of making on the spot orders which could affect the interest of shareholders, depositors and citizens at large.
8. I have reason to conclude that Nirma Limited is likely to proceed their application (Company Application 358/2005 filed through Mrs. Swati Soparkar ) in a hot hurry so that Rs 1000 crores assets be acquired for a sum of around Rs 300 crores in connivance with bankers and bureaucrats with the sanction from the Gujarat High Court.
9. The faith and trust in Judiciary and the Banks and the Government is likely to get tarnished in the eyes of the citizens of the country in case Core Healthcare management and Nirma Limited when Core Healthcare management suppress material facts and with a result other industrialists may use such dubious tactics to go scot free setting such precedent in future.
It is duty of every citizen to blow whistle as loudly as possible so that the Titanic-India does not sink on account of Core Health management playing Duryodhana stripping the Draupadi-Citizens through Dushasana in form of bankers and bureaucrats who follow the instructions of Duryodhana that is Core Healthcare management.
I strongly feel that under no circumstances , psunami in banking sector can be allowed to take place as this small piece of information is just tip of the iceberg as we the human beings are unable to see what is beneath the surface of the iceberg especially when the iceberg concealed underneath( corruption) is colliding with Titanic-India and destroying the Titanic –India.
I do not think that no Indian citizen can afford to be caught unawares even when we are not able to physically see the hole being pierced underneath by the Core Healthcare management that is Mr. Sushil Handa and his dedicated team.
I feel it is prudent to prevent undue haste in making decision to approve Company Application 358 of 2005 of Nirma Limited for take over the assets of Core Healthcare Ltd at a distress value especially when the situation is analogous to the President of India inadvertently taking the decision on Bihar while he was on visit to Russia leading to unnecessary embarrassment.
I am willing to share additional information to impart clarity for grasping the situation in case I am permitted to explain the matter in person.
I am tendering my apology on account of my inadequacies and inexperience as a Party In Person in case your Lordship finds my humble appeal at fault .
Thanking you.
Yours most respectfully,
Pankaj S Mody
"The Only Thing necessary for evil to flourish is for good men to do nothing"- Edmund Burke.
DUTYCRACY is what we need today. If we run after our Rights, leaving Duties unperformed- they elude us like a dream. The more we chase them, the farther they fly. If a plant cuts its own roots, its fate can very well be imagined. We have reached to roots now and have started eating it too. Let us save the roots so that future generations can eat the fruits....
Monday, January 09, 2006
: OJCA 1 OF 2006 APPLICATION BEFORE GUJARAT HIGH COURT
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD ,
DISTRICT : AHMEDABAD
OJ CIVIL APPLICATION NO 1 OF 2006 IN COMPANY APPLICATION 357 OF 2005
AND
COMPANY APPLICATION 383 OF 20051. PANKAJ S MODY …. APPLICANT
RESIDING AT 2ND FLOOR, JANMANGAL
APT
40 BRAHMAN MITRA MANDAL SOC
AHMEDABAD 380 006 (JOINING AS 3RD PARTY)
VERSUS
CORE HEALTHCARE LTD DEFENDANT
304/307 MEERA MANAN ( ORIGINAL PETITIONER)
NEAR KRUPA PETROL PUMP
GUJARAT COLLEGE ROAD
NEAR PARIMAL RLY CROSS
AHMEDABAD
2 DENA BANK EFENDANT
DENA LAXMI BLD ( ORIGINAL RESPONDENT)
188-A, ASHRAM ROAD
NAVRFANGPURA, AHMEDABAD 380009
CIVIL APPLICATION FOR JOINING AS THIR PARTY IN
THE ABOVE MATTER JOINING AS PARTY IN PERSON
--------------------------------------------
TO
The HONORABLE CHIEF JUSTICE AND OTHER HONORABLE JUSTICES OF HIGH COURT OF GUJARAT.
THE HUMBLE PETITION OF THE PETITIONER ABOVE NAMED:-
MOST RESEPECTFULLY SHEWETH THAT:-
The humble Application of the Applicant above
named:-
1. The applicant is desiring to join as third party and the applicant made a request to the Honorable Justice Shri K.S. Zaveri on 13-12-2005 . The consent was granted as per note in ANNEXURE A . I respectfully submit to the Lordships that I am shareholder of Core Healthcare since 1995 having Registered folio number 80766.A copy of the share certificate is as per ANNEXURE B.
2. Core Healthcare Ltd is referred as Great Bank robber company by a front page article in Indian Express in December 2002 and ranks amongst first twenty bank robbers.
ANNEXURE C3. Without getting into the specifics at this stage of my present petition , some of the grounds are briefly narrated as under:-
A. An inquiry has been ordered against the management of Core Healthcare Ltd and their connected persons in light of criminal case pending against them in Sessions court of Ahmedabad since April 2005.
ANNEXURE DB. The demerger contemplates cash outflow of Rs 138 crores and indirect benefit of around Rs 162 crores by Nirma Ltd in their take over of Core Healthcare Ltd by way of demerger route as against an asset valuation of Rs 1000 crores of Core Healthcare Ltd referred to by the respective lawyers counselor of Core Healthcare Ltd in OJCA 106 of 1997 in O J Application 5 of 1997 in American Express Limited versus Core Healthcare Ltd and referred to in the Orders passed by Gujarat High Court in February 1998. The copy of the order is annexed herewith ANNEXURE E
http://mediagtbpsm.blogspot.com/2004/10/saurabh-soparkar-representing-core.html
The article in media as annexed in ANNEXURE F
http://corehealthcare.blogspot.com/2005_10_01_corehealthcare_archive.html
shows that the assets are going at distress price. I am informed and understand that Anti Corruption Bureau are investigating Core Healthcare Limited as directed by the Sessions Court in a case filed against the promoters of Core Healthcare Ltd under Inquiry 1 of 2005. The entire demerger exercise is highly suspect and need to be probed in depth involving several independent agencies for investigation for the wellbeing of shareholders of Core Healthcare Ltd and for the well being of genuine creditors of Core Healthcare Ltd .
C. The main promoter of Core Healthcare Limited is one Mr. Sushil Handa who is running a company by the name of Claris Life Sciences Ltd through his children and his henchman is one Jatin Jalundhwala. The said Claris Life Sciences Ltd is run form a multi storeyed Building located opposite Doctor House near Parimal Railway Crossing in Ahmedabad. The said information is annexed as ANNEXURE G http://www.clarislifesciences.com/
D. Core Healthcare Ltd's Chairman and Managing Director Mr Sushil Handa (through his then advocate , one Mr. A D Shah ) had informed me in writing in the year 2000 that various issues then raised by me as shareholder (of the said Core Healthcare Ltd in my written notice dated 12-1-2000) would be dealt with at appropriate time . The text of the said notice dated 12-1-2000 is annexed herewith and marked as ANNEXURE H .
http://corehealthcare.blogspot.com/2004_08_01_corehealthcare_archive.html
The relevant contents of their reply dated 21-2-2000 vide para 3 is reproduced as " …. As regards the averments made in the Paras 3,4, 5,7 and 9 of your notice, my client will deal with same at appropriate time and my client reserves his liberty only with a view to stop your client from fishing and roving inquiry. " Thereby, wrongfully postponing answering the said issues. They never did what they had stated. .I humbly submit that it is necessary now to call to for detailed clarification and explanation of the said issues by the said Sushil Handa as the rights of shareholders and creditors of Core Healthcare Ltd are going to be extinguished if not extinguished already.
E. There is strong reason to protect the interest of the shareholders of Core HealthCare Ltd as the identity of share holders of Core Healthcare is going to be eliminated in light of such demerger route being announced and without their voice being heard by all the parties involved.
F. There are various litigations pending in various courts (in Ahmedabad) between Core Healthcare Ltd, its employees ,its creditors and its shareholders and the present litigant as a shareholder of the said company. Further ,reference of my Civil Suit No 5827 of 2001 (pending in City Civil Court of Ahmedabad and acknowledged by Reserve Bank of India as per ANNEXURE I )
http://reservebankofindiaongtb.blogspot.com/2005_10_21_reservebankofindiaongtb_archive.html
has been totally omitted by Nirma Ltd( who are taking over Core Healthcare Ltd ) in their scheme of demerger published by them for their shareholders based on whatever Core Healthcare Ltd directors have informed them.The list of suits pending in the court is shown in ANNEXXURE J but excludes disclosure of civil suit 5827 of 2001.
G. The proposed demerger will cause irreparable damage to the rights of the Litigant appearing as Party in Person and to other genuine creditors of Core Healthcare Ltd as the demerger will enable the banks (Oriental Bank of Commerce and Global Trust Bank Ltd) , and the directors of Core Healthcare to go scot free . Such proposed demerger will render the pending litigations also redundant thereby rendering injustice not only to the present Petitioner but also other shareholders and genuine creditors of said Core Healthcare Ltd.
H. I believe that a charge of Rs. Eleven Crore created by Core Healthcare Ltd prior to August 1998 and hence, there was no reason for Jatin Jalundhwala to create a fresh charge of Rs Twelve and half crores subsequently in 1999 on the assets of M/s Rupmangalam Investment Pvt Ltd , M/s Flovin Plastics Pvt Ltd, M/s Dhanyushya. Financial Ltd.. This shows that this was done in collusion with the concerned officers as well as the management of Global Trust Bank Limited to Core HealthCare Limited to dilute the security and / or let the responsible directors of Core HealthCare Limited and Dhanyushaya Financial Limited to avoid facing huge liabilities. I had called for from the management of Oriental Bank of Commerce to furnish a copy of notarized affidavit either confirming that the cgarge of Rs. Eleven crores was created prior to August 1998 on assets of Core Healthcare Limited. I had called for detailed replies from OrientalBank of Commerce by sending several e-mails and they have evaded to give such detailed replies and findings and their silence shows that there is collusion between Core Healthcare management and the management of Oriental Bank of Commerce.
I. The demerger route would have enabled Nirma Ltd to enjoy enormous tax benefit to Nirma Ltd at the cost of shareholders of Core HealthCare Ltd and the management of Core Healthcare Ltd as a shrewd businessman would have done everything to see that they would have negotiated far better offer from Nirma Ltd for the benefit of the shareholders of Core HealthCare Ltd and the amount of the deal shows that they have not done hard bargaining or it seems possibly there is private arrangement. In the wider interest of all concerned shareholders and society ,such practice needs to be curbed by first lifting the corporate veil of Core Healthcare Ltd and its various group companies in totality.
J. In this way, the demerger scheme is not in the interest of share holders of Core Healthcare Ltd as it camouflages the misleading conduct ,acts , omissions , intentions of Core Healthcare Ltd's promoters, their agents and professional advisers.
K. I have come to understand recently that Mrs. Swati Soparkar , practicing advocate of Gujarat High Court of Core HealthCare Limited on 25-10-2005 , Mrs. Swati Soparkar, (as such advocate ) filed Company Application 358 of 2005(ANNEXURE K) on behalf of Nirma Ltd and filed Company Application 383 of 2005 (ANNEXURE L) on behalf of Core Healthcare Limited on 25-11-2005. I believe that Mrs. Swati Soparkar was in conflict of interest of situation where she filed the above application. I further believe, she has misled the said Court.
L. I have drawn attention of Dena Bank by emails to some of the issues raised by me to Oriental Bank of Commerce so hta they can necessary action and copy of email to Dena Bank is annexed as per Annexure M.
M. I do understand and verily believe that Core HealthCare Ltd's name has also surfaced in the Volcker Report and being investigated by relevant authorities.
N. I have reason to believe that Core Healthcare Ltd has acquired major shareholding of Span Medicals Ltd and where in Technology Finance Ltd ( once upon a time subsidiary of Core HealthCare Ltd) , Dhanyushaya Financial Ltd, Rupmanglam Investment Pvt Ltd, Flovin Plastics Pvt Ltd, etc have been amalagamated into Span Medicals by misleading and suppressing material facts as Core Health care management in collusion of Jatin Jalundhwala and others are deliberately not disclosing the facts so as to deny my rights and timely justice.
O. I may be allowed to add, amend , alter , modify ,rectify , grounds as and when necessary depending on the circumstances.
4. I most humbly appeal to your Lordships that I shall be allowed to furnish additional background information at future date.
5. I may be permitted to add , modify, alter, application at a future date depending on the circumstances.
6. I humbly and respectfully pray to the Honorable court would be pleased to :-
I. The Petitioner appearing as Party In Person humbly prays to your Lordship that on account of narrations as referred above, the proposed demerger should not be allowed by Core Healthcare Ltd and/or all connected agencies, and/or deferred until compliance of various pending suits and inquiry :-
a. The statements on oath of the present and past management of Core Healthcare Limited , their agents, the professional advisers and their bankers ( in particular Oriental Bank of Commerce and Global Trust Bank Limited) be recorded in this Honorable Court and/or in Sessions Court Inquiry No 1 of 2005 and in Civil Suit 5827/2001 pending in Bhadra Court.
b. That various documentary evidences to be submitted to this Honorable Court by the management of Core Healthcare Ltd as regards what is stated by me in above Paragraphs and as to what is referred in the proceedings of civil suit 5827 of 2001.
c. finally they be cross examined thereon letter in this Honorable Court or alternatively in the Sessions Court in Inquiry Number 1 of 2005 pending against promoters of Core Healthcare Ltd and their bankers.
II. The shares of Core Healthcare Limited as well as their various rights in the company are prohibited for being transferred or used in any manner by Nirma Ltd or any other agencies pending further investigation findings.
III. Core Healthcare Ltd would be given directions as to why charge was created by Core Healthcare on its assets prior to August 1998 by Global Trust Bank or not and what was the specific reason to obtain a fresh charge on the immoveable property of Rupmanglam Investment Pvt Ltd,Flovin Plastics Pvt Ltd in August 1998 and March 1998. Core Healthcare would be called upon to obtain detailed reply from Oriental Bank of Commerce.
IV. Core Healthcare Ltd management would take all necessary action against Handa family and Jatin Jalundwala to recover the loss suffered by the company especially when there is heavy loss in realization on proposed demerger as Nirma Limited at distress value.
V. Core Healthcare Ltd management along with Sushil Hand is called upon to take legal action against all the concerned agencied and bankers whoi have given consent to propose sale of assets at distress value to Nirma Limited and make them reimburse to Core Healthcare Ltd such loss on account of dpletion suffered by Core Healthcare Limited.
VI. Be pleased to grant such other and further reliefs as may be deemed just and proper in the facts and circumstances of the case.
AND FOR THIS ACT OF KINDNESS AND JUSTICE THE PETTITONER AS IN DUTY BOUND SHALL EVER PRAY
PLACE : AHMEDABAD
DATE:- 12-2005
PANKAJ S MODY PARTY IN PERSON
I , Pankaj Sureshchandra Mody, aged 58 , adult residing at 2nd Floor , Janmangal Apartment , 40 Brahman Mitra Mandal Society , Paldi , Ahmedabad 380 006 , joining as Party In Person herein do hereby solemnly affirms and state on oath that what is stated herein above are true to best of my knowledge , information and belief and I believe the same to be true and correct.
Solemnly , affirmed at Ahmedabad on this day of December 2005
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DEPONENT
PARTY IN PERSON
