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Kannan Vishwanatth with Rajendra Vinayak

Kannan Vishwanatth with Rajendra Vinayak
Kannan Vishwanatth with Rajendra Vinayak
Report #: 14586 - 0 Comments
Date Reported: Monday, February 13, 2023
Status: Past Incident
Severity: Moderate - Public Bullying
Primary Weapon: Other
Specific Location: Gundawali Road Purna Bhiwandi Thane
City/Local Area: Mumbai
State/Territory: India
Region: Central Asia

Dr DATSON LAB was poised to be emerging leader and became stock market darling in 2013. But the stock price plummeted from Rs 850 to Rs 6 and suspended in 2015 by stock exchanges.

The promoters could pledge entire holding to some financial institutions, flouted entirely SEBI rule and regulation on its nose. It is alleged and purported SEBI to have connived the infringement of laws and finally the promoter managed to escape their business with huge gain, kept the investors in lurch, so it is invariably gross dereliction duty by SEBI.

The promoters could quit and they could it in collusion with SEBI official, we are pointing fingers to SEBI.

As the company became parentless, BOB filed a case in High Court Mumbai, division bench passed an order the company to be liquidated.

BOB pulled out the plants to recover its due. Company was broken in parts.

BOB published e auction, it is very surprising no bidder is available in throwaway price.

Official Liquidator is dilly dally, silly sally to complete their actions.

Promoters are absconded, not paying BOB dues, although having handful cash,

No action is taken in three years gainst the promoters like Dr KANNAN VISHWANATTH & Dr Rajendra Vinayak Kamat.

Fraud Committed By Dr Rajendra Kamat & Dr Kannan Vishwanatth

In 2011 / 2012 it was decided by him to buy Apex Drugs, Hyderabad based unlisted company for DDL for an amount of Rs 250 Cr by taking loans from Banks and as approved by Dr Rajendra Kamat. He paid an amount Rs 80 Cr by cheque as advance to Apex Drugs and further gave them Rs 50 Cr worth of DDL shares. Later it was stated that that deal was cancelled as banks backed out. Till date there were no efforts made by him to retrieve this amount from Apex Drugs, may be because of his personal interest. My request is that Rs 130 Cr with interest be retrieved from Apex Drugs and credited in the a/c of DDL.

In 2015, the complete shareholding promoter, Dr Kannan Vishwanatth was pledged and invoked by lenders leaving the company at the helms of lenders. Key directors, including the compliance officer, had also quit by late March 2015. As the company got delisted from the exchange, hard earned money of thousands of retailers, just vanished in thin air.

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