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Courts Concluded HUDCO Scam Defrauded Discriminated Cheated MS Shoes


Courts Concluded HUDCO Scam Defrauded Discriminated Cheated MS Shoes

In the next book of the HUDCO Scam Series, Alborz reveals how Courts concluded Hudco Scam Defrauded Discriminated Cheated MS Shoes. In 1994-1995, HUDCO illegally retained MS Shoes monies of Rs. 68.68 crores (US Dollars 21.89 million). By doing so, they have unjustly enriched by Rs. 7800 Crores (US Dollars 1021.20 million), earning 18% Interest with quarterly rests.

During many court appearances, MS Shoes provided various witnesses, showing how HUDCO misrepresented/concealed material facts, discriminated against, and withheld the timely payments. Income Tax Authorities declined to grant HUDCO permission due to insufficient title in its favor, which witnesses proved during their testimony; wherein the Income Tax permission was not considered.

The discrimination towards MS Shoes viz-a-viz Ansals also stood proved before the Court, 

“I am quite surprised that in India, this way, the legal system runs its Courts despite open unexposed Scams by HUDCO,” Alborz Azar – Attorney at Law.  Justice Delayed is Justice Denied is the truth behind the MS Shoes tragedy.

Courts Concluded Hudco Scam  Defrauded Discriminate Cheated Ms Shoes