http://oheraldo.in/node/10501
... Says Ingo, wife illegally acquired company shares BY HERALD REPORTER PANJIM, MARCH 2 — Explaining undesirability of Ingo Grill and his wife, the State Government charged that Ingo and Maria illegally acquired shares in Goa Adventure Company Pvt Ltd, and Saturday Night Bazar Pvt Ltd, registered in December 14, 1996 and January 24, 2002 respectively. They had not sought permission from the Reserve Bank of India, the Government said in its affidavit. The Goa Adventure Company Pvt Ltd, registered with two Indians as directors, namely Sameer Bandodkar and Rajshree Bandodkar. In 2002, the said directors transferred their shares to Grill and Maria. The Government said their induction and acquisition of shares in the company is not legal, carried out without RBI permission, as well as in violation of provisions of the Foreign Exchange Management Act, 1999. Similarly, Saturday Night Bazar Co, was formed by the duo with two Indians as directors, namely Shankarlal Bairwa and Mamta Bairwa. The State Government held that with them being already directors in previously registered company, they could not have acquired share in the said company, and so this acquisition is also illegal. -- TUMCHER AXIRVAD ASSUM; DEV BOREM KORUM. Gabe Menezes. London, England
