[Resolved]  TAURUS EARTH MOVERS LTD — Non Payment of Salary for several months - & Fraudulent Practices

To anybody who's listening:

(1). Background:

Several o[censored]s joined company - Taurus Earth Movers Ltd., in Bangalore. The line of business being Construction equipment servicing across India. This firm is headed by an inexperienced(Found out later!!) youngster - SIDDARTH NARAYAN., frequently found on page 3 for his lavish parties etc. He is the son of Mr. Narayan Siddhapur- Dealers for JCB backhoe loaders in Karnataka. With the industry boom, they have done extremely well. Mr. Narayan Siddhapur deserves every bit of credit. A hard working honest man. His son on the other hand, pardon my vocabulary, is nothing short of a SCOUNDREL. He obtained loans of over 120 Cores from banks, by fraudulently inflating their property values and colluding with the bank loan officers. Allright. Now that we have working capital lets begin the business, Right?? Wrong!! All that money was spent in a matter of a few months on LAVISH PARTIES, CARS(FERRARIS, BMW 7 SERIES ETC.), WOMEN( he's got quite a reputation) INTERNATIONAL TRAVEL ( Only Business class!!), ISD CALLS (30 Lakhs!! Can you believe it!!) HOUSE RENT ( He stays in Mr. AZIM PREMJI's house for a monthly rental of Rs. 700,000/-. Yes Monthly!!!) HOTEL ACCOMODATION( Nothing less than 7 star) etc. -- all this on BORROWED MONEY!! Working Capital at that!! So the obvious happens: read on

(2).GREIVANCES:
a. Salaries all across the company, ( even to the tea/coffee suppliers, office boys etc. ) not paid for several months.
b. PF, TDS etc. deducted but not credited to the respective govt. accounts
c. Constant promises to pay but default everytime.

(D). COMPANY DETAILS

Directors :-
1. Siddarth Narayan ( MD)
2. Arthi Narayan
3. Vanitha Narayan
4. Ashoke Hegde
5. Damodar Shetty
6. Raghvin Shetty
7. Nischith Kumar
8. Manish Shetty

Regd. Office: - ( No operations here )
10-83/b
Gokhale Nagar
Ramnathpur
Hyderabad - 500 013

Operations office :-
No. 34, 3rd floor, Embassy Diamante
Vittal Mallya Rd - Bangalore -560 001

(F). REASONS FOR THIS POST

I know that my few lakhs of recievables are probably dust. It hurts to think that way, but that's the bitter truth. But to soothe that fire in my belly, I am going to file a case against the company, and do everything I can to expose this mans low ethics to the anyone who cares to listen - " I HOPE SIDDARTH NARAYAN AND HIS WHOLE FAMILY ARE THROWN OUT ONTO THE STREETS, SO THAT THEY FEEL THE SAME AGONY THAT SO MANY O[censored]S FEEL" - Not a good thought, but thats the bitter truth!!!

For a picture - search siddarth r narayan in Linkedin.