Mobilewave Share Discussion Threads

[moreforus] 16/5/2013 15:07

i hope i'm right too...was happy to be proven wrong on the court case and teflon man narang....

[bobby.ifa] 16/5/2013 15:05

Hope you're right moreforus

[moreforus] 16/5/2013 10:49

and hopefully CPS by the month end (i'm a believer now as i never thought they'd get narang!!) and a relisting at multiples of the exit price

[sean caruana] 16/5/2013 10:47

India court case tomorrow. Only one day as opposed to two in the UK.

[moreforus] 16/5/2013 10:34

not showing up yet....

[bobby.ifa] 16/5/2013 10:31

Does anyone know if his name has been published in the Gazette?

[moreforus] 14/5/2013 06:56

Narang should appear on here later today or tomorrow ...

[moreforus] 13/5/2013 12:26

well if that comes in they will have to relist....and the price is gonna be higher than when they went away!

[sean caruana] 13/5/2013 12:14

Early next week we should get news on the court case and with a bit of luck news on the CPS too.

[moreforus] 13/5/2013 11:51

so another 1.5 mill times 8% times 3 years (well its more than that ...) but roughly 360k usd on top of whats currently known to be owed...

now all they have to do is hire dog the bounty hunter

[jonc] 13/5/2013 11:47

Yes MBW are entitled to charge 8% from when the payment is due.

[moreforus] 13/5/2013 11:37

3 years at 8%

[jonc] 13/5/2013 11:34

Statutory interest is 8% pa.

[sean caruana] 13/5/2013 11:30

Hi Moreforus

Final argument is set for 17th May.

Also worth noting from an earlier RNS...the Company has now issued proceedings in the UK against Mr Narang personally for recovery of the final payment of US $1.5 million which was due on 31 December 2009, plus interest for the period since then.

The interest must be at least 100k.

[moreforus] 13/5/2013 10:18

are they in court this week in India???

[gecko5] 10/5/2013 17:57

Nice! Got give it to Rory for the effort. All we need is CPS now.

[jonc] 10/5/2013 16:14

I believe that he could cut a deal with the trustee in bankruptcy.

However before that takes place a TiB would need to satisfy himself that this was in the best interests of creditors or the TiB could then be sued by the creditors!

There is enough information on the web boasting of Narangs success and wealth that I doubt he could argue that he is penniless.

The trustee has the power to reverse transactions that have taken place "under value"

[29howard] 10/5/2013 16:12

You in this suspended stock as well moreforus ?

lol

How long is the list, 50 ?

[pitot_heat] 10/5/2013 16:11

Is there a possibility of a small out of court settlement? After all does MBW have the cash to carry on paying the lawyers? (never mind the rent)

[bobby.ifa] 10/5/2013 16:08

The Trustee still has to acquire & dispose of the assets & not at their actual true value, as they are valued lower in distress sales. Unless he has hard cash though!

[pitot_heat] 10/5/2013 15:53

Havent followed this so much after selling out at a loss, but what a turn up for the books! Congratualtions if this all falls into place, the cynic in me says it'll drag on a while though.

[moreforus] 10/5/2013 15:30

stress away Acta

[acta_topup] 10/5/2013 15:29

Fantastic step forward. Congratulations to Rory for pursuing this so doggedly. Cannot stress how important this was

[moreforus] 10/5/2013 15:25

bobby there's a recipricol agreement with India so he can't escape there....

he's been made bankrupt and that's going to hurt him forever....