Sources : Written statement of defence filed in the suit filed by G Square against Savukku Shankar seeking 2 crores for defamation.
In the defence, it is stated as follows : G Square’s close relationship with Anna Nagar Karthick @Karthikmohandmk can be seen 1/7
In the defence, it is stated as follows : G Square’s close relationship with Anna Nagar Karthick @Karthikmohandmk can be seen 1/7
from the company’s public records. G Square’s filing for the year ending 31.03.2021 with the Registrar of Companies, shows just negligible business activity for the company till then. Further large unsecured loans and movement of funds between group companies 2/7
can be seen.
Auditors have stated about the unsecured loans, thus “In our opinion and according to information and explanation given to us, the company has granted the loans which are controversial to the provision of Sec 185 and Sec 186 of the Companies Act, 2013”. 3/7
Auditors have stated about the unsecured loans, thus “In our opinion and according to information and explanation given to us, the company has granted the loans which are controversial to the provision of Sec 185 and Sec 186 of the Companies Act, 2013”. 3/7
There is movement of funds between G Square’s 48 group entities. Balance sheet of G Square for 2020 shows a loss of Rs.7 crores and for 2021 shows a loss of Rs.21 crores. The company’s paid up capital is just Rs.1 lakh. 4/7
However, the company’s fortunes rose to astonishing heights. G square’s CEO claims that their turnover for 2021 will be 2000 crores.
Anna Nagar Karthick’s wife and mother Ms. Shruthi Karthick and Ms. Geetha Mohan are Directors in some of the group companies 5/6
Anna Nagar Karthick’s wife and mother Ms. Shruthi Karthick and Ms. Geetha Mohan are Directors in some of the group companies 5/6
of G Square.
MK Mohan, father of Anna Nagar Karthick has shown loans given to G Square’s Ramajayam and his spouse’s immovable assets are disclosed to be 200 crores. 6/7
MK Mohan, father of Anna Nagar Karthick has shown loans given to G Square’s Ramajayam and his spouse’s immovable assets are disclosed to be 200 crores. 6/7
From the public records it is clear that, Anna Nagar Karthick and G Square Bala are in close business relationship. 7/7
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