This week NMart's counsel has withdrawn the writ petition he filed on behalf of NMart in the AP High Court in August 2010 after Corporate Frauds Watch lodged a complaint with the police against the fraudulent company stating that it is a fraud attracting the provisions of Prize Chits & Money Circulation Schemes (Banning) Act, 1978. The NMart appealed to the High Court to declare its business model legal.
Corporate Frauds Watch filed an implead petition in the same writ petition and appealed to the High Court to hear its plea before taking a decision on the writ petition filed by NMart.
However, the fraudsters tried their best to prolong the hearing on the writ petition.
Finally, the Andhra Pradesh police led by an upright police officer Dr Raghuram Reddy, superintendent of police of Prakasam district started taking action against NMart in 2012.
Immediately the NMart racketeers filed two more writ petitions in AP High Court in 2012 instead of putting forward arguments in the 2010 writ petition.
When they found the going got tough, they simply appealed to the High Court to allow them to withdraw the petitions.
However, the writ filed in 2010 was not withdrawn at that time.
The counsel of NMart on Monday withdrew the writ petition as there was nothing else he could do with it.
In effect, the NMart lost one more chance to defend its business model in AP High Court. In essence, it could be deduced that NMart has actually nothing to present to the judiciary to defend his racketeering.
It is really pity that still the NMart 'distributors' - the fancy name for members - are still in the make believe world that the NMart would open soon.
It has already been mentioned several times in this blog that no court in India would give any relief to the racketeering of NMart and their ilk.
The classic example of this statement is the latest raids on Amway India in Kerala. The fraudulent company has no defense left for it to claim its 'proven business opportunity all over world' was good for Indians.
Last time in 2011 too, instead of approaching the judiciary for a remedy, the fraudulent Amway racketeers have mobilised some IBOs to submit a representation to the chief minister of Kerala.
This time they simply tucked the tail and slunk off.
The counsel of NMart on Monday withdrew the writ petition as there was nothing else he could do with it.
In effect, the NMart lost one more chance to defend its business model in AP High Court. In essence, it could be deduced that NMart has actually nothing to present to the judiciary to defend his racketeering.
It is really pity that still the NMart 'distributors' - the fancy name for members - are still in the make believe world that the NMart would open soon.
It has already been mentioned several times in this blog that no court in India would give any relief to the racketeering of NMart and their ilk.
The classic example of this statement is the latest raids on Amway India in Kerala. The fraudulent company has no defense left for it to claim its 'proven business opportunity all over world' was good for Indians.
Last time in 2011 too, instead of approaching the judiciary for a remedy, the fraudulent Amway racketeers have mobilised some IBOs to submit a representation to the chief minister of Kerala.
This time they simply tucked the tail and slunk off.