Saturday, July 25, 2015

Ebusinessware became MediaAgility

Ebusinessware was one big acquisition made by Mascon Global in 2008 for $35 million. It was supposed to have been renamed "MGL Finance" but this was only temporary. In the last directors report, they talked of restructuring subsidiaries but did not reveal the new companies name which is: iDEA Solutions Inc.

But there was another undisclosed restructuring of Ebusinessware. No less than three new companies were formed: MediaAgility, Ondemand Agility, and Adglobal360. The directors and important personnel of Ebusinessware: Edward Hoofnagle, Sanjeev Midha, Rajesh Abhyankar, Ashu Chadda, etc. were distributed into these three companies.

MediaAgility India Private Limited was incorporated on 16 November 2010 and registered at Registrar of Companies, Delhi. Its authorized share capital is Rs. 500,000 and its paid up capital is Rs. 100,000. The World Headquarters, 14 Wall Street, Suite 5E, New York address of MGL Finance is now the office of MediaAgility. Same with the Ebusinessware office at SCO 43, Old Judicial Complex, Gurgaon, which now houses MediaAgility. And similarly the MGL Finance properties at Singapore and London, are now MediaAgility offices.

But one office of MGL Finance in USA: 18 East Lancaster Avenue, Malvern, Pennsylvania, was sold on 03/03/2011 as per records for more than $6 million. This pdf file gives details of the old offices of MGL Finance/Ebusinessware.

Ondemand Agility is US based product development Company incorporated on 16 August 2013 in California. Several personnel and assets of Ebusinessware were transferred to this company without informing shareholders and creditors of Mascon Global. On Demand Agility in India shows charges of 1 crore 55 lakh by Deutsche Bank AG, New Delhi, and 4.5 crore by Punjab and Sindh Bank, Delhi.

Adglobal360 India Private Limited was incorporated on 19 March 2010 and is registered at Registrar of Companies, Delhi. Its authorized share capital is Rs. 50 lakh and its paid up capital is Rs. 441,800. Directors are the same as MediaAgility/Ebusinessware/MGL Finance.

This entire restructuring of a subsidiary company was done by Mascon Global from 2010 onwards without informing the shareholders or creditors. The transfer of assets, personnel, money, to these new companies has to be accounted for.

Section 447(1) of The Companies Act, 2013 defines fraud to include:

(a) any act,

(b) omission,

(c) concealment of any fact

by a company or any body corporate. Mascon Global has done the same in all its backroom deals with Qudrant 4, Secure Earth, and the illegal formation of new companies from the old subsidiaries like Ebusinessware, and iDEA Solutions Inc. Ebusinessware twitter account started going silent from 2010, while MediaAgility made its first tweet on 23 Dec 2009:
MediAgility added another customer MVIL ( for it's Mobile platform (http// 5:19 PM - 23 Dec 2009

MediaAgility gives the game away in this post making the astonishing claim: "A client of MediaAgility since 2005, Minyanville sees a phenomenal growth in the number of people visiting their website." So MediaAgility quietly dropped all references to Ebusinessware, which was there in their first tweet. That MVIL was Ebusinessware's client is proved in their old document: "Minyanville, a leading provider of paid financial news to finance savvy organizations, uses our services to run their technology development. Our proprietary platform called CellAgility used Cloud Computing for this implementation."

Many such clients of Ebusinessware have been distributed among MediaAgility, On Demand Agility, and Adglobal360.

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