Overview

MS Shoes came out in February 1995 and was fully underwritten by 267 Underwriters. The Public Issue devolved on the underwriters due to under subscription. As per law, notices were issued to the underwriters who failed to bring in subscriptions within sixty days of the devolvement. The entire amount received had to be refunded to the subscribers, which made underwriters liable for the full amount. After ten years in 2007, the High Court of Delhi appointed a Retired Judge as Arbitrator to resolve disputes between MS Shoes and the Underwriters. Awards were passed in favour of MS Shoes under Arbitration Act, 1940. The suits were filed in 2012 by MS Shoes to pass decree in terms of award and brought twenty-eight cases to contest the award for the last ten years till 2022.

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9781648733185

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In the HUDCO Land Scam Series, by Alborz Azar, reveals the widespread corruption behind the precious Andrews Ganj land in the heart of New Delhi. A media condemned man whose innocence remained unknown struggled with the unfounded accusations that caused public opinion to falter, leading to a guilty sentence before any trial could be scheduled. The victim behind the scam in this situation was MS Shoe's founder Pavan Sachdeva. Behind the lies and deception, a brilliant entrepreneur took the fall for the underhanded dealings of the HUDCO Land Scam. The same man accused of underhanded dealings fulfilled his debts due to these deceptive lies, with no compensation for the legally awarded settlement. Alborz proves how Pavan's commitment not only caused financial stress on his family but also mental anxiety dealing with this issue for over two decades. Yet, rulings go unanswered. HUDCO ignores legal court findings to repay the ill-gotten monies from MS Shoes. The only response is more excuses for why HUDCO has not met the court decisions. As the culprits hide in the shadows, Pavan struggled through court case after the court case, proving his innocence. Official Supreme Court rulings were regarded as frivolous orders to corrupt officers and business executives. Alborz brings light on the scam to reveal the truth that has deprived innocent victims of due justice for decades. alborzazar.net

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