MS Shoes East

Sub: Deletion of data being outdated and
inaccurate in the name of the company and
its CMD Pavan Sachdeva.

We would like to bring to your kind attention
the following data loaded in google search
engine:

Justification for deletion of such
information :-

1 Special Report India Today – April,1995

Pavan Sachdeva arrested, SEBI and Merchant
Bankers come under the cloud. (copy
enclosed as Annexure-1).

Individuals have the right to be forgotten as
held by EU Top Court.

become outdated as well as inaccurate,
irrelevant, no longer relevant, inadequate and
excessive in relation to the purpose for which
they were processed in the light of the time
that has a elapsed.

Deletion of such information does not amount
to censorship in view of several
changes/current information for last 20 years
from the date of reporting .

The CMD and the company has gone into
several changes of the said allegations in the
data provided by your company.

The changes and the developments are as
follows :

It was wrongful arrest by CBI.

The allegations in the FIR were completely
wrong in law.

The 5 star hotel in the heart of Delhi
mentioned in the report have been decreed in
favour of the company as on 3.7.2010. The
court has declared the cancellation as null &
void and inoperative.

The case under which arrest was made was
closed on the closure report filed by CBI in
Sept., 1998 and the closure report was
accepted by the First Class Magistrate of
Mumbai vide its order dated 30.9.1998.

The criminal complaint of the company is
pending before Court against the persons who
filed a wrong FIR with ulterior motives
motivated by the competitors of the company.

information on companies proposed Rs. 699
crores public & right issue and for propping
of the shares has no relevance in the view of
the closure of the FIR which was reported in
the newspapers but the same is not reflected
in the data on Google, copy of the closure
report is annexed as Annexure-II.

The allegation in the report that there were
co-conspirators does not stand any more as
the FIR was closed as back as in Sept.,1998.

The allegations that officials flouted number
of guidelines to give monitory advantage to
the company’s promoter also does not stand
in view of the closure of the FIR in 1998.

The allegations that SBI Caps gave false due
diligence certificate stands closed on the
closure of the FIR.

subscription and the rule book mentioned in
the report that if issue is above Rs. 50 crores
not more than 25% should be collected on
application are completely wrong in view of
the SEBI guidelines at the relevant time, in
support the copy of SEBI regulations at the
relevant time is annexed as Annexure-III.

The allegations in the report the SEBI
exempted from bringing in the promoters
quota for Rs. 85.65 crores for the public issue
is also are wrong reporting in the said report.

right issue was subscribed is also wrong
reporting as there was no SEBI guidelines at
the relevant time to instruct the stock
exchanges to stop the release of the proceeds
since the proceeds are not with Delhi Stock
Exchange but always remained with the
banks as trustee of the investors.

investors in the matter of vetting prospectus
and other documents is also false in view of
the fact that the prospectus was vetted by
SEBI, Registrar of Companies and Regional
Stock Exchange as well, however such
allegations are reported from the FIR which
have no relevance in view of the closure of
the FIR in Sept., 1998.

The allegations that SBI Caps allowed the
company to collect 50% subscription on
application and exempted him from bringing
in the promoters quota is also false in view of
the SEBI guidelines and the relevant time.

of shares of MS Shoes for the purpose of
rigging the price to deceive the generally
ignorant investors is also completely false as
there was no rigging or no insider trading
that has been found in the investigations by
CBI.

The allegations in the version of Sh. Y.P.
Singh that he had “evidence of pay off” to
SEBI officials to overlook were also false in
view of the findings in investigations.

Companies Act which has been stayed by
High Court of Bombay as the entire
allegations & investigations in the FIR has
been closed since on the same allegations
another complaint cannot be filed and its
stand admitted by High Court of Bombay, the
copy of the order is annexed as Annexure-IV.

Sh. Y.P. Singh version as reported in the said
report stands closed by his own investigations
in the FIR.

shares were propped up by the company as
per the investigations of CBI which were
closed in Sept., 1998, in regard to bridge loan
it may be brought to your kind notice that
they stand paid by the company and as such
presently there are no debtors of the company
neither any banks nor any institutions, in
regard to the hotel project its stand decreed in
favour of the company vide order dated
3.7.2010, copy of the order is annexed as
Annexure-V.

2. Frontline – Volume 17, Issue 16, august 5
– 18, 2000.

Controversy – The MS Shoes Affairs

from FIR have no stand and is irrelevant
information in the view of the said fact that
the FIR was closed in Sept., 1998 besides in
respect of these allegations in the report are
not justified in view of the above details
given in point no. 1.

As reported that apparently the Govt. has got
report from CBI months ago on the MS Shoes
case is completely false in view of the closure
of the FIR in Sept., 1998.

In respect of Hudco also the report at present
is completely irrelevant in view of the decree
& judgment passed by the Court.

irrelevant as well as inadequate besides that it
is no longer relevant and that it is excessive in
relation to the purpose for which they were
processed in the light of the time that has a
elapsed.

The deletion of the said report does not
amount censorship in view of the supported
documents enclosed herewith.

3 Indiainfoline.com
• 2.5.2014

Company Profile by Sanjay Jhaveri, CFA
• (copy enclosed as Annexure-3). The allegations that the company
misrepresented the company shares price in its advertisement is a false
information in view of the closures of such allegations and court orders which
have been annexed herewith.

The report has been reported in May, 2014
giving the false allegations in the company
profile besides the fact that such allegations
are outdated as well as inaccurate.

The allegations that Bombay Stock Exchange
threatened not to grant listing is also false
information besides the fact that the case is of
1995.

The allegations that there were high project
cost of the company is also false in view of
the fact that the project was appraised by a
premium institution Tourism Financial
Corporation of India.

company ultimately led into devolvement of
the issue is also false as the issue was
devolved because of under subscription
within 60 days of the closing date of the
issue.

proceedings is also false in view of the
closure report as well as the court order in
Sept., 1998 besides the fact that the
information provided is of the current year
May, 2014.

The Registrar as reported in the report as MS
Shoes East Ltd., 5 NWA, Punjabi Bagh Extn.,
New Delhi 1-110026 is also false as all times
since 1995 the company’s Registrar Mas
Services Ltd.

The such articles by written by Sanjay
Jhaveri, CFA which are false should not be
kept in data by google and in fact no further
analyses of such persons should be allowed to
be downloaded in the data.

June,2012 in respect of the devolvement on
the underwriters and they have been decreed
in favour of the company, one of the order
passed is enclosed as Annexure-VI although
there are almost 50 decrees passed against 50
underwriters amounting to more than Rs. 98
crores.

The information which is false and if deleted
would not amount to censorship.

4 Business Standard, Kolkata – 12.6.1998

DRT Likely to Auction MS Shoes Properties.

(copy enclosed as Annexure-4).

Business Standard, Kolkata – 9.3.1998

Refund Allahabad Bank Rs. 21.49 crores, MS
Shoes told. (copy enclosed as Annexure-5).

The allegations that most of the project
having failed to take off is of 1998 and the
current situations are entirely different in
view of the decree in favour of the company.

Allahabad Bank is also irrelevant in view of
the fact that entire amount has been paid to
Allahabad Bank as back on 23.5.2009, copy
of the letter from Allahabad Bank is annexed
as Annexure-VII.

Further the report is outdated in view of the
fact that DRT proceedings have been closed
as back as in July, 2009, the copy of the DRT
order closing the proceedings is annexed as
Annexure-VIII.

that huge amount of loans are to be paid by
the company has no relevance as presently
there are no debtors of the company, the
audited financial report of March, 2014 is
annexed as Annexure-IX, the debtors were
paid longtime back by the company

Such report presently are invalid and have to
be forgotten under the circumstances they
have become outdated as well as inaccurate.

in relation to the purpose for which they were
processed in the light of the time that has a
elapsed. In view of which such information
is neither legitimate nor legal information and
would not amount to censorship if it is
deleted.

by EU Top Court that involved in a debt
recovery operations still continuous to appear
on the online specially such data is existing
long after the legal dispute has been resolved
by the company.

irrelevant and has no longer relevant in the
light of the time that has elapsed besides the
fact that the entire amount stands paid to
Allahabad Bank as back as in year 2009, the
relevant documents are already annexed.

5. Indian Express – 14.7.1997

MS Shoes case finally comes for hearing

(copy enclosed as Annexure-6).

The information in the report is completely
outdated in view of the fact that suit in
respect of 5 star hotel land has been decreed
in favour of the company and the judgment
has been annexed herewith.

As reported that the property is awarded to
Leela Hotels & Convention Ltd. (LHCL) is
also outdated in view of the fact that Leela’s
allotment had been cancelled by Hudco as
back as in July, 1999.

Statement showing cases wherein notices u/s
142 of Customs Act,1962 issued on or after
1.4.2003. (copy enclosed as Annexure-7).

against the defaulters, the amounts have been
shown in total approximately Rs. 16 crores is
completely and outdated information since
the show cause notices have been dropped,
copy of the orders dropping the show cause
notices are annexed as Annexure-X (Colly).

The company had never availed any modvat
since the company into 100% exports and as
such modvat could have never been availed,
the copy of the certificate issued by excise
department is annexed as Annexure-XI.

shown as nature of offence that we failed to
fulfill condition of export obligation u/s
203/92 Cos. is completely wrong in view of
the fact the conditions of the alleged section
had been complied with by the company.

concerned central revenue recovery cell for
initiating recovery action has been taken is
also false in view of the fact that all the show
cause notices stand dropped against the
company and as such there is no recovery by
the Central Revenue Department.

The information is required to be deleted as it
is outdated in view of the orders and the
certificate annexed herewith.

since long including the other group
companies have also paid the entire amounts
to the banks and at present there are no
liabilities whatsoever of any of the group
companies, the letters from the
banks/financial institutions showing
evidencing there are no liabilities towards
them are annexed as Annexure- XII (colly)
which included also of the group companies.

8. A.P. Associate Press – 7.4.1995

after scandal closes market (copy enclosed as
Annexure-9). The allegations in the report
that Pavan Sachdeva cheated the investors
stands closed vide closure report of CBI as
already justified above.

completely false as the company or the CMD
was never involved into any purchase of
shares from any stock exchange or any
broker, thus the allegations of rigging the
shares of the company are also false in the
light of the fact that the CBI has closed the
FIR.

cheating against three members of SEBI and
two officials of SBI Capital Markets and the
allegations of these officials conniving with
Pavan Sachdeva for financial gains is also
irrelevant in the light of the fact that the FIR
registered by CBI stands closed.

Any allegations in respect of the Stock
Brokers is not concerned with the company or
Pavan Sachdeva.

India Largest B2 Market Place.

Shoes affair and MS Shoes has gone to the
cleaners besides the fact is that all these
reports pertain to April, 1995 which are more
than 20 years old, there are all irrelevant,
outdated and are also inaccurate besides that
they are excessive in relation to the purpose
for which they were processed and in the light
of the time that has elapsed.

10 Citeman Network only business
community knowledge base.

Capital Market Scams by Sree Rama Rao on
1.7.2009.
• (copy enclosed as Annexure-11). The allegation that March, 1995
another scam known as MS Shoes scam master mind by export, Pavan
Sachdeva, rigged up price of shares, leading eventuality to a crash are
completely baseless in view of the fact that such allegation have been reported
from the FIR of CBI which stands closed since 1998 while this article is
written in 2009. There are no allegation that subsist presently in respect of
share prices alleged to be rigged besides it is a proved fact that the company
nor Pavan Sachdeva rigged the prices of the company’s shares. The allegation
that the market were closed for three days is baseless as the brokers did not
default due to the company or Pavan Sachdeva. The shares were purchased by
the brokers on certain vested interest and in any case such allegation do not
stand proved against the company or Pavan Sachdeva in view of the closure
report accepted by the Court as well as the stay granted by High Court in
respect of complaint under the Companies Act filed by CBI in 1998, the
closure and stay order has already been annexed as Annexure –II & IV.

processed in 1995 and in the light of the time
that has elapsed such reports should not be
entertained even if written by Sree Rama Rao
who has not reported the change facts of the
case in view of which the said report is
required to be corrected and till then should
be deleted as it would not amount to
censorship.

11 Business Standard, Kolkata. 21.4.1997 by
Cherian Thomas

14.3.2007 and the awards have already been
decided in favour of the company by the
Arbitrator in June, 2012 which have been
decreed in favour of the company, the copy
of the order of High Court appointing the
arbitrator is annexed as Annexure-XIII and
copy of the decree passed by High has
already been annexed as annexure – VI.

irrelevant which is no longer relevant as well
as it is excessive in relation to the purpose for
which it was processed and in the light of
time that has elapsed. In view of which such
information would not amount to censorship
if it is deleted.

12 The Financial Express posted online
27.2.2003 reported on 26.2.2003.

IF War on Cor. Defaulters (copy enclosed as
Annexure-13).

of Delhi granted the stay since the FIR was
not found to be correctly registered, however,
the said FIR was quashed vide order dated
19.9.2005 is annexed as Annexure-XIV in
view of which presently the said report is
outdated since the amount stands paid to
Indian Air Force . The information presently
is outdated as well as inaccurate and the
deletion of the same would not amount to
censorship.

13 Rediff on the net business news. Copy
right 1997 Rediff On the Net.

CBI Targets SBI, SEBI officials in MS Shoes
Scam. (copy enclosed as Annexure-14).

Shoes, Managing director, Pavan Sachdeva
would be main accused are irrelevant in view
of the fact that no prosecution had been filed
by CBI, rather closure report was filed in
Sept., 1998 and court had accepted the
closure report, the documents in respect of the
closure have been annexed as Annexure -II &
IV.

of the applications of the subscription and
that SEBI official did not take any precaution
nor did not they instruct Delhi Stock
Exchange not to release the public issue funds
are completely irrelevant and outdated in
view of the fact that such allegations were in
the FIR and they have been closed since
Sept., 1998.

prop up his shares prices also have no
substance and outdated in view of the fact
that the FIR containing such allegations has
been closed since Sept., 1998 and the
complaint under Companies Act also stand
stayed by High Court of Mumbai since 2009.

The said report is outdated as well as
irrelevant and the deletion of the same will
not amount to censorship.

14 expressindia.indian express.com –
11.9.1998. (copy enclosed as Annexure-15).

CBI filed complaint in MS Shoes case

allegation of the complaint as reported in the
report do not persists in view of the fact that
the complaint is of 1998 and in the petition
filed before High Court of Bombay, the court
was appraised of the false allegations due to
which petition was admitted and stands
stayed since 2009 in view of which the said
report is no subsist and outdated.

15 eBook – Pearson Education India

The Indian Financial System : Markets,
Institutions and Services By Bharati V.
Pathak

be rigged besides it is a proved fact that the
company nor Pavan Sachdeva rigged the
prices of the company’s shares. The
allegation that the market were closed for
three days is baseless as the brokers did not
default due to the company or Pavan
Sachdeva. The shares were purchased by the
brokers on certain vested interest and in any
case such allegation do not stand proved
against the company or Pavan Sachdeva in
view of the closure report accepted by the
Court as well as the stay granted by High
Court in respect of complaint under the

Pathak who has not reported the change facts
of the case in view of which the said report is
required to be corrected and till then should
be deleted as it would not amount to
censorship. Further that such allegations have
been carried over from one of the newspaper
report/FIR which has been closed by CBI as
well as the Court in view of which such
allegations are outdated as well as irrelevant
and such the deletion of the same would not
amount to censorship.

Boost Your Professional Career By S.K.
Bhatia

company never cheated any of the investors
and such allegations have been carried over
from some of the newspaper report/FIR
which stands closed and the newspaper
reports are outdated in view of the fact that
the company has not cheated any of the
investors which has been supported by the
closure of the FIR in view of which such
allegations are outdated as well as irrelevant
and such the deletion of the same would not
amount to censorship.

Corporate Governance : Principles, Policies
and Practices By A.C. Fernando

Secondary Markets Reforms (copy enclosed
as Annexure-18).

company manipulated stock market price
quotations and that MS Shoes is an example
of market rigging in March , 2001 is
completely false as the company never rigged
the prices as being alleged besides the facts is
that company’s shares were not traded even in
2001 in view of which the said report is
completely false on the face of it which needs
to be considered to be deleted as it would not
amount to censorship at all.

Business Ethics: An Indian Perspective By
A.C. Fernando

completely false in view of the fact that such
allegations do not stand once the allegations
in the FIR stands closed besides the fact that
the company or Pavan Sachdeva was never
involved in insider trading nor did purchase
any shares as being alleged in the report.
Besides the fact is that the said report has no
relevance due to elapse of time that they were
reported in 1995 besides the fact is that such
report and data is irrelevant and is no longer
relevant as well as it is outdated and
inaccurate.

India Business Yearbook2009 By Career
Launcher India Ltd.

Sachdeva to divert funds from public to
subscribe to right issue entitlement of the
promoters amounting to Rs. 1.3 billion which
caused panic in the stock market have no
relevance in view of the fact that the said
allegations stand closed by CBI in Sept., 1998
in view of which the said report is outdated,
irrelevant as well as excessive in relation to
the purpose in the light of the time that as
elapsed and such deletion would not cause
any censorship.

1 MS Shoes from Wikipedia, the free
encyclopedia.

subscription and the issue was devolved on
the underwriters who did not pay within 60
days of the closure of the issue due to which
the entire amount collected from the investors
was refunded by a resolutions passed by the
company 22.4.1995, the letter received from
SBI Market Ltd. in response to letter of SEBI
as well as the resolution passed by the
company are annexed as Annexure. I & II.
Further the certificate issued by the Registrar
mailing all the refund is annexed as
Annexure - III. Thus the allegations that

1.5.2012 is also wrong since no such money
was raised from the investors as the entire
amount had to be refunded since the issue
was devolved on the underwriters and
remained undersubscribed till the 60th day of
the closure of the issue and as per terms of
prospectus the said amount was refunded
within the stipulated time by passing a
resolution on 22.4.1995. In respect of the
alleged borrowing from banks & financial
institutions, the company borrowed the
amounts from the banks as per law and in due

20, 2002, all of which do not have any
relevance in view of the fact that all such
allegations stand closed since Sept., 1998.
Further that the company has survived very
well and has no complaints of any of the
shareholders and as reported that the
company is defunct (2003) is also completely
wrong in view of the fact that the company
has been abiding by all the laws of country
and has been filing its returns with ROC
regularly.

since CBI closed the FIR in Sept,1998 and
such the allegation being alleged in the report
in respect Prevention of Corruption Act have
no relevance at present since the allegations
are outdated and inaccurate besides being
irrelevant and excessive in relation to the
purpose for which they were processed and in
the light of the time that has elapsed since the
closure of the FIR.

has been made on report from Nirmala
Ganpati June 6, 2003 the Indian Express,
retrieved 1.5.2012 is completely false in view
of the fact that the FIR was closed in Sept.,
1998 and the closure report was accepted by
the court on 30.9.1998, the same is annexed
as Annexure-IV.

the order stay is annexed as Annexure. V
and copy of the FIR has been quashed is
annexed as Annexure-VI in view of which
the said report is irrelevant and outdated and
any retrieval on 1.5.2012 do not support the
actual facts besides the said report is reported
to be modified on 19.4.2014 which does not
have proper reports of the current situations
accept it has been retrieved from the old
reports which are outdated in view of the
changes that have not been reported and as
such the current report modified on 19.4.2014
is irrelevant, inadequate and as such it needs

company filed its reference was registered
with BIFR on 13.6.2002, coy of the same is
annexed as Annexure-VII it was mandatory
to go to BIFR as net worth of the company
had eroded and presently the rehabilitation
scheme submitted by the company to the
Operating Agency and BIFR has been
approved vide order dated 25.10.2013 of
BIFR, copy of the order is annexed as
Annexure-VIII.

against the underwriters who did not pay on
devolvement of the issue and the company
also has a decree against Union of India as
well as Hudco for wrongfully forfeiting the
amount of Rs. 68.68 crores in respect of its 5
star hotel projects, the copy of the decree is
annexed as Annexure-IX.

MS Shoes East

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