MS Shoes Fall collapsed under the stronghold of Gujarat Apar Polymers Limited (GAPL), retained ex-Joint Director of CBI, K. Madhavan, and Ms. Pallavi Shroff, Partner of Amarchand Mangaldas and Hiralal Shroff & Co. The scam committed by them was amplified, especially due to K. Madhavan using his ex-position.
In India, reports reveal K. Madhavan was supposed to be an honest officer, but a media-hungry individual. The deceit he practiced in obtaining a fraudulent statement from a buyer of MS Group is an interesting read.
Pavan Sachdeva bravely marched ahead with legal cases, despite the fall of MS Shoes in 1994. Notwithstanding, the forfeiture of Rs. 68.68 crores by HUDCO, and negative media publicity planted by GAPL, K. Madhavan Pavan did not lose perseverance.
The present book is the story of a brave, intelligent businessman who faced insurmountable odds, but finally won through strength. HUDCO litigation and the underwriters are pending final results, although awards passed in MS Shoes favor in 2012. Yet, it took almost twenty-seven years to see a resolution.
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