Further Frauds by Dr Kannan Vishwanath

DDL Investors Group

24 JUL 2016 — (4) Fraud No. 4 

May 06, 2011 – Aanjaneya Lifecare entered into the capital market with an IPO of 50,00,000 equity shares. Issue Price: Rs. 234 Per Equity Share, Issue Size: Rs. 117.00 Crore. Aanjaneya Lifecare was subsequently named as Dr Datson Labs Ltd. It is alleged that Dr Kannan Vishwanath misused some of this money. 

(5) Fraud No. 5. As per Annual Report FY 2013 – 14, Dr Datson Labs had two world class R&D Centres at Mangalore and Bangalore. Subsequently what has happened to them is not know. Have they been sold and if yes where is the money from its proceeds? 

(6) Fraud No. 6. Aanjaneya Lifecare Ltd, Aanjaneya House, Plot 34, Postal Colony, 

Chembur, Mumbai � 400 071, Maharashtra, India. Phone: +9122 2526 4500 

Fax: +9122 2522 3521 i.e. Dr Datsons office was alleged to be fraudulently registered by Dr Kannan Vishwanath on his name using backdated stamp paper wef 2011 and in Jun 2015 it was transferred on his father / mother’s name. 

(7) Fraud No 7. (a) Dr Kannan Viswanath has started (backdated) Hong Kong base company Windsonn Exim Limited. Its board members as per its site are, (i) Dr Kannan Viswanath MD, (ii) Mr Arthure Kibble, based at UK, (iii) Dr. Rajendra Kamat, and (iv) Ing Alex Eens (President). Patents belonging to Dr Datson Labs are shown as belonging to Windsonn Exim Limited also. Is it possible for two companies to hold same 15 patents.

http://windsonn.com/patents.html. 

(b) Various address give are as follows :- 

(i) WINDSONN EXIM LIMITED - HONG KING, Office : 903, 9/F Dannies House, 20 Luard Road, Wanchai , Hong Kong SAR, 

Phone no. : +85221159251

Fax : +85221159251 

(ii) WINDSONN EXIM PVT LTD – INDIA, Corporate Office : Matruchaya, Plot No 34, Postal Colony, Chembur, Mumbai 400071 India, Phone no. : +91 22 25243678 / 25270017 Fax : + 91 22 25262890 and 

(iii) R & D CENTRE & WAREHOUSE, Windsonn House, Plot No W-91D, MIDC Taloja -401208 Raigad Dist Maharashtra State India Phone no. : +91 22 27402223, Fax : +91-22-27411837 

Address at sr (ii) and (iii) belong to Dr Datson Labs Mr Arthure Kibble, based at UK appears to be an Advocate Mr ARTURO A. KIBBLE who has appeared many times in Bombay HC in the matters of Dr Dason Labs Ltd 

In these frauds Dr Kannan has been assisted by his father, Mr Kasi Vishwanathan. Dr Rajendra Kamat, ex Non Exe Chairman, CFO and Company Secy werwe aware of it by virtue of their posts. Also Mr Kishore Iyengar, a close confidant of Dr Kannan Vishwanath is alleged to have been deeply associated in all the fraudulent activities of Dr Kannan Vishwanath.

---

• Tweet
• Email

FIR against Dr Kannan Vishwanath and his father Sh Kashi Vishwanath for cheating and fraud

                                                              DDL Investors Group

Dr Kannan Vishwanath along with his father Sh Kashi Vishwanath, as MD of Dr Datson Labs, Mumbai based listed company has cheated our country and thousands of shareholders by siphoning off around Rs 300 Cr of Dr Datson Labs and indulging in many other frauds which are as follows :-


Dr Kannan Vishwanath


FRAUDS Committed by Dr Kannan Vishwanath, ex MD of Dr Datson Labs Ltd, former name Aanjaneya Lifecare Limited ( herein after referred as DDL ), Mumbai based listed company. (India), are as follows, though I could detect only three but there could be more :-

(1) Fraud No. 1.

DDL had 15 patents which Dr Kannan got registered with Controller General of Patents, however, only 12 were registered in the name of DDL rest three were registered jointly in his name and his father Mr Kashi Vishwanathan, though these were intellectual property of DDL. List of registration of these patents is attached.

(2) Fraud No. 2

(a) 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 them as per Dr Kannan. 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 !30 Cr with interest be retrieved from Apex Drugs and credited in the a/c of DDL.

(b) Details of Apex Drugs is, (i) Mr Ghanshyam Kurmi - Managing Director, Mr.Ravi Gangapalli –Chief Operating Officer and Mr. Sandeep Kumar Verma – Director, (ii)

(3) Fraud No. 3

(a) Fair Success (HK) based at Hong Kong was incorporated in 2012. I have not been able to find out who was its promoter, it appears he was close associate / relative of Dr Kannan.

(b) In 2013 it was bought by Dr Kannan for DDL for a sum of Rs 250 cr, proceeds of first FCCB, In reply to my mail DDL office intimated me that it has been bought because of 15 patents Fair Success ( HK ) had. It started operating as 100 % subsidiary of DDL wef 29 July 2013.

(c) On further scrutiny of patents it was fond that these patents were same which belonged to DDL. That means these were sold to Fair Success (HK) before it was bought by DDL. For how much amount Dr Kannan sold these patents is mystery but estimated amount could be around Rs 250 to 300 Cr. This amount was not credited in the a/cs of DDL and hence siphoned off, could be in his / his relative / close associate account abroad. A very serious fraud and needs further investigation. Again my request is that this amount be retrieved and credited in DDL’s a/cs.

In these frauds Dr Kannan has been assisted by his father, Mr Kashi Vishwanath. Dr Rajendra Kamat, ex Non Exe Chairman, CFO and Company Secy were aware of it by virtue of their

This petition will be delivered to:

• PM
• President

Sebi disposes proceedings in Datsons Labs shareholding case

PTI May 12, 2016, 07.37PM IST

Tags: sebi| regulations| Rajeev Kumar| markets| Kannan Vishwanath| Finaventure Capital Limited| Finaventure Capital| Dr Ashleys Labs Limited| Datsons

 

NEW DELHI: Markets regulator Sebi today disposed of proceedings against three entities in a matter related to alleged violations in share trading of Dr Datsons Labs.

According to the Securities and Exchange Board of India (Sebi), the entities -- Finaventure Capital Limited , Kannan Vishwanath and Dr Ashleys Labs Limited -- together purchased 8,02,055 shares, or 5.77 per cent of the Datsons Labs in 2012-13.

While Finaventure Capital and Kannan Vishwanath are the promoters of the Datsons Labs, Dr Ashleys Labs had a common director with Datsons.

By failing to make an open offer regarding this aquisition as they were all connected to each other, they allegedly violated certain norms under the Sebi (Substantial Acquisition of Shares and Takeovers)Regulations .

Rejecting the charges mentioned in the show cause notice earlier issued by the regulator, Sebi Whole Time Member Rajeev Kumar Aggarwal said that the notice is vague and ambiguous as it fails to state why the period between quarter ended March 2012 to June 2013 has been chosen for examination wherein the relevant period is a financial year.

Further he said, admittedly, none of the noticees have, individually, breached the 5 per cent threshold limit by virtue of their individual gross acquisitions during the financial year 2012-13.

"The show cause notice is silent as to whether gross purchase by these two promoters (Finaventure Capital Limited, Kannan Vishwanath) increased total promoters' shareholding (who together held more than 25 per cent shares/voting rights in the target company) beyond 5 per cent permissible creeping limit," the order said.

Further, the show cause notice does not allege any concerted action on the part of Ashleys Labs Limited, Finaventure Capital and Kannan Vishwanath to indicate commonality of objective.

Under the Takeover norms, when entities who hold 25 per cent or more shareholding in a company acquire additional 5 per cent or more in that particular firm, in a financial year then they are required to make an open offer.