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From: Hari Prasad Sent: 29 Jul, 2016 12:48 PM To: roc.mumbai@mca.gov.in Subject: Complaints lodged at PMO and CIC against Gitanjali Gems Ltd- Mumbai an Its MD Mr Mehul C Choksi Ref: HP/2907 Dtd: 29/7/16. To PGO 100, Everest, Marine Drive Mumbai. This has reference to the grievance forwarded to your office from PMO as under: We are awaiting to know the action taken by you with regards to this complaint as it needs to be done immediately before it become too late and the accused flee from the country like Vijay Malaya of Kingfisher group. Kindly revert asap. Thank you Hari prasad 09845033564 meva@live.in

Registration Number Name Of Complainant Date of Receipt Received by Forwarded to Officer name Officer Designation Contact

: PMOPG/E/2016/0261955 : Hari Prasad SV : 26 Jul 2016 : Prime Ministers Office : ROC Maharashtra : PGO : PGO : 100, Everest, Marine Drive


Address

Contact Number e-mail Grievance Description

Date of Action

Mumbai 400002 : 22812627 : roc.mumbai@mca.gov.in : Respected Sir, I would like to bring to your notice a major financial scam similar to that of Mr Vijay Mallya of King fisher group from Bangalore, Subrata Roy of Sahara group-Calcutta or Ramalingaraju of Satyam group-Hyderabad. This scam and fraud done by the person/company based in Mumbai involving loss of Rs 1000s of crores of Indian Public money which is under way by. Details of the Fraudster. Person: Mr Mehul C. Choksi, Chairman and Managing director. Company: M/S Gitanjali Gems Limited. Regd. Office: A-1, 7th Floor, Lakshmi Tower, Bandra Kurla Complex, Bandra East. Mumbai 4000051. India. Ph: 91-22-40354600 BSE Scrip Code: 532715. CIN/FCRN/LLPIN: L3691 1MH 1986PLC 040689 (1) Enclosed herewith PDF of the copy of the Complaints by Various franchisee victims against M/S Gitanjali Gems Ltd Mr. Mehul Choksi and its various subsidiary/sister companies made to various regulators but no action has been taken by any one of them till now. This company is involved in Syphoning out of Rs 1000s of crores of Indian public money through various subsidiary companies floated in India and fictitious companies abroad. All details are attached in the pdf enclosed. Kindly look into this and do needful before it is too late and he will escape from country like that of Mr Vijay Mallya of Kingfisher group. Thanks you. Hari prasad 09845033564meva@live.in : 29 Jul 2016

Dear Sir, I would like to bring to your notice a major financial scam similar to that of Mr Vijay Mallya of King fisher group from Bangalore, Subrata Roy of Sahara group-Calcutta or Ramalingaraju of Satyam group-Hyderabad. This scam and fraud done by the person/company based in Mumbai involving loss of Rs 1000s of crores of Indian Public money which is under way by.. Details of the Fraudster.

Person:

Mr Mehul C. Choksi, Chairman and Managing director.


Company: Regd. Office:

M/S Gitanjali Gems Limited. A-1, 7th Floor, Lakshmi Tower, Bandra Kurla Complex, Bandra East. Mumbai 4000051. India. Ph: 91-22-40354600

BSE Scrip Code: 532715. CIN/FCRN/LLPIN: L3691 1MH 1986PLC 040689 (1) Enclosed herewith PDF of the copy of the Complaints by Various franchisee victims against M/S Gitanjali Gems Ltd & Mr. Mehul Choksi and its various subsidiary/sister companies made to various regulators but no action has been taken by any one of them till now. Having failed to get the attention of any serious investigating authority, We have finally come to your door for justice. (2) This person has siphoned out thousands of cores out of India. Details as explained in the pdf document attached. a) As stated in their annual report AM 14/15. There are lot of deficiencies in the balance sheets. b) List of 31 Banks extending Loans to this group.(Pls refer to the Page-4) This company has taken huge loans to the tune of almost Rs 9872.0 crores with meagre assets of just Rs 25-30 Crores and definitely going to become NPA soon. Someone need to investigate the credit report of this group with these banks. c) Tax liabilities are increasing year by year. This company is not paying Tax dues to Income tax authorities consistently from 2006 onwards which is running into thousands of crores.. (refer to Page 66, 67, 83, 84, 85 n 88 ) This means chances of him defaulting on payment are increasing by the year. d) Consolidated balance sheet (page Nos 109 to 112) which says that.. his tangible assets are very very small. while large portion of it is shown as inventories and trade receivable which are manipulated n inflated figures. and loans are to the tune of 9700 crores.. Based on this kind of apparently fictitious balance sheet, any one with basic financial knowledge can understand there is something fishy with this company and its activities. He could have managed the banks by some means. e) Pls also look at page 141 & 142 where in you can see that most of the Indian subsidiaries are in Losses and foreign subsidiaries are in profit. f) Which is quite contrary to the economic situation of the west.. West is still in recession and India is growing at 7-8%.. IN such a scenario.. how cum .. his foreign


companies are profitable and Indian companies are in loss. Assumable Choksi has siphoned out India money abroad. This deserves a detailed and thorough investigation by technical experts.

(3) We are enclosing List of several cases filed by various victims including banks and financial institutions. like LIC..which is self explanatory. a) The Chairman and MD Mr Mehul C Choksi has a knack of misusing the law to his advantage by appointing fleet of senior advocates/auditors and consultants and drag the matters till it come to his neck. b) Accordingly, in various cases such as (FIR 48/2015 and FIR 80/2015 at Central Police station in Bangalore) filed on him and his companies, he failed to get any relief from courts in the anticipatory bail petitions and finally he found it more convenient to somehow manipulate/manage Local police to get the some kind of B report to escape the arrest. c) There are several victims all over India and Fighting various cases on their Individual capacity which Mr Mehul C choksi of M/S Gitanjali Gems Limited but somehow This person and his group goondas easily manage to crush by using his mussel and money power who ever raises his voice against him. There is lot more information we can offer to you but we are not able to get the right authority who will do a thorough investigation on this kind of huge frauds.

(4) Other General Information a) Mr Mehul C choksi of M/S Gitanjali Gems Limited is also partner with Time of India group and they refused to cover the storey as they have financial interest in that company as well. b) Also unfortunately the reputation of media is also not very good now a days. General perception of public is that media companies get the info on a case and then they start negotiating deals with the accused and so on.. c) I hope you will take due note of the above and do your bit to save the country from Another Shubroto Roy (Sahara Group) and Vijay Mallya (King Fisher group) and may such kind of white collar THUGS from looting public money and stashing it out of India. d) Having failed to get the attention of any authority, we have finally coming too PMO as we want to save the country from huge losses of apx Rs 10,000 Crores looted by such while collar thugs.


e) I believe still there are still lot of honest people/honest officers exist in India and someone has ring the bell.

I Hope you will do your best quickly to depute a right person to investigate this fraud and save the country from loosing of thousands of crores. Thanking you

Yours faithfully. Hari Prasad.SV Bangalore Ph: 09845033564 E mail: meva@live.in

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Annexure of Hari Prasad's complaint  
Annexure of Hari Prasad's complaint  
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