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Royal Indian Raj International Corporation launches multi-million dollar lawsuit against against former Vice President of Communications, William Zack for print and internet liable.
VANCOUVER, Apr. 22 /CNW-AsiaNet/ --
Royal Indian Raj International Corporation (RIRIC) announces today a $100M
USD lawsuit for Slander, Liable and Defamation of Character against RIRIC
former Vice President of Communications William Zack. The suit was filed in the
United States District Court for the Southern District of New York.
The RIRIC lawsuit, initiated in May of 2008 in New York, alleges that Mr.
Zack stole proprietary information, confidential data and contact lists from
RIRIC then, waged a slanderous smear campaign against the company in North
America and India. RIRIC alleges that in or around March 2008, Mr. Zack used
various fictitious anonymous aliases to communicate misinformation about
RIRIC’s business to the public through postings on unethical websites and
through a direct interview with a Canadian newspaper which was then later
excerpted by the Times of India newspaper. He also used the stolen lists to
communicate directly with shareholders, customers and alliance partners. RIRIC
contends this damaged the RIRIC trade mark, caused millions of dollars in
financial loss and a huge loss of client goodwill.
The lawsuit alleges that Mr. Zack misled RIRIC's principals and the public
to believe that delays in developing the inaugural Royal Garden City Project
and the Royal Garden Villas & Resort in Bangalore, Karnataka
(www.royalvillasandresort.com) resulted from mismanagement at RIRIC as opposed
to India’s notoriously bureaucratic land development process, specifically the
delay of the[protected] Bangalore Regional Master Plan (approved only in Jan
30th, 2009) and India’s government upheavals. India has seen five failed
governments collapse in Bangalore since 2004. These factors have delayed
developments for over 400 Indian real estate developers in the vicinity,
including RIRIC. Mr. Zack also claimed that RIRIC exaggerated its developments
and wrongly used celebrity endorsements. RIRIC vigorously maintains that both
claims are invalid and untrue. In addition to filing the lawsuit in US courts,
RIRIC intends to prosecute Mr. Zack in India under Indian criminal law.
"Not only is this campaign un-factual and unethical, it has harmed our
company and its principal's reputation as a leader in the Indian Realty sector
under the Indian Government's Integrated Township program, " states RIRIC
Chairman; Manoj Benjamin. "Court systems provide legal ways for dispute
mediation and regretfully, Mr. Zack opted to air his grievances against us
through this online smear campaign. Annoying someone anonymously via the
Internet, through a website or even by email; however is a federal crime with
stiff fines and prison time. And beyond being illegal, this is a great shame.
Our business practices remain and always have been transparent and sound."
Mr. Zack's grievances began in November 2007 when he filed a lawsuit with
RIRIC and the company, in turn, filed one against Mr. Zack. Negotiations failed
and when an arbitration date at a Colorado court was set for February 2008, Mr.
Zack did not appear. In February 2009 his lawsuit against RIRIC in British
Columbia was dismissed, and yet his online defamation campaign continues.
Mr. Benjamin states that whilst this campaign was designed to hinder and
harm RIRIC's operations, development and sales in India, the company remains
focused, growing and strong. Soon RIRIC will be clearing permissions from State
and Central authorities not only on the inaugural Royal Garden Villas & Resort
project but larger projects including a new affordable housing project and a
special economic zone (SEZ).
"As pioneers in the Indian Realty sector we always predicted the real
estate market would open and thrive. Presently India's real estate market lacks
regulation and is therefore highly unstructured, disorganized and far more
challenging than anything that has been encountered in the West. Despite this,
we have held in there patiently with India's archaic permissions process and
weathered political resistance. We have loyal investors and now with
permissions being granted on the Royal Garden and Villas Township we are going
full throttle ahead. We are proud of our endeavors in India; one of the world's
most economically vibrant nations for real estate. We remain committed to its
growth and to providing housing for this nation for many years to come."
VANCOUVER, Apr. 22 /CNW-AsiaNet/ --
Royal Indian Raj International Corporation (RIRIC) announces today a $100M
USD lawsuit for Slander, Liable and Defamation of Character against RIRIC
former Vice President of Communications William Zack. The suit was filed in the
United States District Court for the Southern District of New York.
The RIRIC lawsuit, initiated in May of 2008 in New York, alleges that Mr.
Zack stole proprietary information, confidential data and contact lists from
RIRIC then, waged a slanderous smear campaign against the company in North
America and India. RIRIC alleges that in or around March 2008, Mr. Zack used
various fictitious anonymous aliases to communicate misinformation about
RIRIC’s business to the public through postings on unethical websites and
through a direct interview with a Canadian newspaper which was then later
excerpted by the Times of India newspaper. He also used the stolen lists to
communicate directly with shareholders, customers and alliance partners. RIRIC
contends this damaged the RIRIC trade mark, caused millions of dollars in
financial loss and a huge loss of client goodwill.
The lawsuit alleges that Mr. Zack misled RIRIC's principals and the public
to believe that delays in developing the inaugural Royal Garden City Project
and the Royal Garden Villas & Resort in Bangalore, Karnataka
(www.royalvillasandresort.com) resulted from mismanagement at RIRIC as opposed
to India’s notoriously bureaucratic land development process, specifically the
delay of the[protected] Bangalore Regional Master Plan (approved only in Jan
30th, 2009) and India’s government upheavals. India has seen five failed
governments collapse in Bangalore since 2004. These factors have delayed
developments for over 400 Indian real estate developers in the vicinity,
including RIRIC. Mr. Zack also claimed that RIRIC exaggerated its developments
and wrongly used celebrity endorsements. RIRIC vigorously maintains that both
claims are invalid and untrue. In addition to filing the lawsuit in US courts,
RIRIC intends to prosecute Mr. Zack in India under Indian criminal law.
"Not only is this campaign un-factual and unethical, it has harmed our
company and its principal's reputation as a leader in the Indian Realty sector
under the Indian Government's Integrated Township program, " states RIRIC
Chairman; Manoj Benjamin. "Court systems provide legal ways for dispute
mediation and regretfully, Mr. Zack opted to air his grievances against us
through this online smear campaign. Annoying someone anonymously via the
Internet, through a website or even by email; however is a federal crime with
stiff fines and prison time. And beyond being illegal, this is a great shame.
Our business practices remain and always have been transparent and sound."
Mr. Zack's grievances began in November 2007 when he filed a lawsuit with
RIRIC and the company, in turn, filed one against Mr. Zack. Negotiations failed
and when an arbitration date at a Colorado court was set for February 2008, Mr.
Zack did not appear. In February 2009 his lawsuit against RIRIC in British
Columbia was dismissed, and yet his online defamation campaign continues.
Mr. Benjamin states that whilst this campaign was designed to hinder and
harm RIRIC's operations, development and sales in India, the company remains
focused, growing and strong. Soon RIRIC will be clearing permissions from State
and Central authorities not only on the inaugural Royal Garden Villas & Resort
project but larger projects including a new affordable housing project and a
special economic zone (SEZ).
"As pioneers in the Indian Realty sector we always predicted the real
estate market would open and thrive. Presently India's real estate market lacks
regulation and is therefore highly unstructured, disorganized and far more
challenging than anything that has been encountered in the West. Despite this,
we have held in there patiently with India's archaic permissions process and
weathered political resistance. We have loyal investors and now with
permissions being granted on the Royal Garden and Villas Township we are going
full throttle ahead. We are proud of our endeavors in India; one of the world's
most economically vibrant nations for real estate. We remain committed to its
growth and to providing housing for this nation for many years to come."
Royal Indian Raj International Corporation cleared by British Columbia Securities Commission after employee internet liable campaign VANCOUVER, April 15.
British Columbia Securities Commission (BCSC) enforcement staff have closed their investigation file on Royal Indian Raj International Corp.
In October 2005, the B.C. Securities Commission commenced an investigation, but despite diligent and exhaustive work 2005- April, 2010 by lead investigator David Martin, the case was never approved for prosecution.
"At the end of that process we concluded that there was insufficient evidence to sustain allegations". I hasten to add that there was much internal debate on this point and that in no way were decisions made in a hasty or cavalier manner.
BCSC investigations manager Bob Abrams April 20, 2010.
British Columbia Securities Commission (BCSC) enforcement staff have closed their investigation file on Royal Indian Raj International Corp.
In October 2005, the B.C. Securities Commission commenced an investigation, but despite diligent and exhaustive work 2005- April, 2010 by lead investigator David Martin, the case was never approved for prosecution.
"At the end of that process we concluded that there was insufficient evidence to sustain allegations". I hasten to add that there was much internal debate on this point and that in no way were decisions made in a hasty or cavalier manner.
BCSC investigations manager Bob Abrams April 20, 2010.
Why should investors have to go on a one-by-one basis to the RIRIC office at their own expense and make inquiry into things that should have already been presented in a forthcoming matter at Annual General Meetings?
Professional corporations hold AGMs so that their investors can be simultaneously informed o[censored]pdates, which are verified with proper documentation that is unilaterally presented to every investor simultaneously and in the presence of each other. They can join together and discuss the progress and objectives of the corporation in a transparent and welcoming environment.
Why haven’t the investors been provided with these documents including financial statements? Even small building stratas provide the owners of its properties which financial statements each year at an AGM. Why is only lip service given on the willingness of RIRIC to provide documentation? Wouldn’t it be just so quick and easy to put all the criticism to rest by mailing out a documentation package to all investors? So why all this protesting and no documentation?
Sharon Dobson