Vaibhav Global : Back from the dead


#201

It seems that they can sell without a picture. :smiley:

I double checked my net connection. I even tried at different machine and different connection.

With this information, it seems that they can sell 24000(see the “shop by duration” numbers) items (of 1$ rising auction) in a day. Now if we assume that they only make profit of $1 per item ( though items get sold as high as 50$, I watched for an hour.)
They are making 14 crores of profit alone from this segment. No wonder why this case was filed against them.

This also explain why their q1 numbers were bad. as they were integrating, all of this was stopped/disturbed.


(M S S Murthy) #202

I am a value investor .Learned the ropes the hard way since the year 1982 .Seen through the various ’ Scams ’ including the ones connected with Mr Harshad Mehetha , lost good deal of money , but come through successfully like a battle hardened soldier .Value investing has been not only my hobby and passion , but also my main source of income and life style .In all my investments on a scale of 100 I allot 50 points to integrity , vision and effeciency of management , the rest 50 equally distributed between business plan , quality and quantity of financials and payouts . I believe that all the stocks in my current portfolio namely Havells , Piramal Enterprises , Amararaja Batteries , Emami , Thomas Cook , Intellect Desiging Arena , MPS , are poessessing most of these attributes .Many are already 10 baggers and I am hopeful of their future performance too .

Now comming to Vaibhav Global .I see my investment in Vaibhav Global is one of the most interesting , being exibiting extremely contradictory charactoristics positives and negatives .On is one hand are the success of the entrepreneur having successfully come through a near bankruptcy , excellent - make no mistake , excellent - financials , seam less scalability , near total ownership of the promotors giving opportunity of a ’ side car ’ ride for retail investor (an oft referred phrase from Proff Sanjay Bakshi ) , etc…

On the other hand the very significant negatives . First is claim against the charactor of the entrepreneur who is alleged to have been involved in highly questionable activities around the year 2006 . I deem this as mocking at my face rediculing my self professed claim of giving utmost importance to the honesty and integrity of management .Secondly , the highly disappointing financial performance of the company for the latest FY and bleak projections by the management for the current FY. Thirdly the latest court case .

My inertial reaction was to book my loss - my entry was a small quantity at a ridiculously high price of Rs 800 , and then at Rs 600 and Rs 390 – but on second thinking my thought process is as Unser .

The entrepreneur seems to have learned from his mistakes including short cuts , unethical practices , and taking risk on the verge of recklessness . All the pointers , high promotors holding , a board consisting of persons of repute , neglible debt , willingness to sacrifice short term profits against future long term benefit , have urged me to give a benefit of doubt in favour of the entrepreneur . I have desired to increase my holding during the next six months subject to continuous review and monitoring of performance .I am imposing a cap of 10 % of my portfolio for Vaibhav . I admit there is a potential of capital .But the significant upside potential - if the business plan of the entrepreneur unfolds successfully – , and the excellent performance of my total portfolio are the guards .
Note . This is purely my personal openion . May be I have developed a bias in favour of this company , having invested in the same .


(M S S Murthy) #203

Corrections : " I admit that there is a potential risk of risk of loss of capital " . Excuse me for the typing error .


(jainaj) #204

@varadharajanr @ash7979
Courts in america doesn’t take as long as india. And its three months already. There must be some progress on this front. How can we know what is the current status?


#205

Sorry for pasting everything here, but here is the update on case: (Source : https://www.pacermonitor.com/case/8354239/Lianna_Kabbash_et_al_v_The_Jewelry_Channel,_Inc_USA)

Hearing will be between Sept11,2015 to Sept 18,2015 and VGL has to submit their reply by Sept 4th…SO I feel by end of sept we will get more update on this case…

ORDER CONTINUING HEARING DATE28 by Judge Dolly M. Gee: The hearing datefrom September 11, 2015 to September 18, 2015 at 9:30 a.m. Plaintiffs oppositionpapers are due August 21, 2015. Defendants reply papers are due September 4, 2015. (lc)

Friday, August 14, 2015
29 order Order ~Util - Set/Reset Motion Hearing and R&R Deadlines Fri 11:16 AM
ORDER CONTINUING HEARING DATE28 by Judge Dolly M. Gee: The hearing datefrom September 11, 2015 to September 18, 2015 at 9:30 a.m. Plaintiffs oppositionpapers are due August 21, 2015. Defendants reply papers are due September 4, 2015. (lc)

Tuesday, August 11, 2015
28 stip Continue Tue 10:56 PM
STIPULATION to Continue Hearing for Motion to Dismiss from September 11, 2015 to September 18, 2015 Re: NOTICE OF MOTION AND MOTION to Dismiss The Complaint Pursuant to Fed.R.Civ.P. 12(B)(6) and Fed.R.Civ.P. 9(B) 23 filed by Plaintiffs Angela Hovind, Lianna Kabbash.(Gibbs, Eric)
Att: 1 Proposed Order

Thursday, August 06, 2015
27 order Appear Pro Hac Vice Thu 5:58 PM
ORDER ON APPLICATION OF NON-RESIDENT ATTORNEY TO APPEAR IN A SPECIFIC CASE PRO HAC VICE by Judge Dolly M. Gee: granting26 APPLICATION to Appear Pro Hac Vice by Attorney Jonathan W. Thomas on behalf of Defendant the Jewelry Channel, Inc., designating Jacob M. Harper as local counsel. (lt)

Wednesday, August 05, 2015
26 motion Appear Pro Hac Vice Wed 6:23 PM
APPLICATION for attorney Jonathan Webster Thomas to Appear Pro Hac Vice (PHV Fee of $325 receipt number 0973-16215897 paid.) filed by Defendant The Jewelry Channel, Inc. USA. Application set for hearing on 9/4/2015 at 09:30 AM before Judge Dolly M. Gee. (Harper, Jacob)
Att: 1 Proposed Order

Tuesday, August 04, 2015
25 misc Refund of Fees (G-124) - Issued Tue 10:52 AM
REFUND OF $325.00 made payable on 08/04/2015 to Eric Gibbs for payment made on 06/23/2015 Re: APPLICATION for Refund of Fees Paid22 . (rdj)

Friday, July 24, 2015
24 notice Certificate/Notice of Interested Parties Fri 12:15 PM
CERTIFICATE of Interested Parties filed by defendant The Jewelry Channel, Inc. USA, identifying Genoa Jewelers and Vaibhav Global Ltd… (Zachary, Michael)
23 motion Dismiss (cause or other) Fri 12:12 PM
NOTICE OF MOTION AND MOTION to Dismiss The Complaint Pursuant to Fed.R.Civ.P. 12(B)(6) and Fed.R.Civ.P. 9(B) filed by defendant The Jewelry Channel, Inc. USA. Motion set for hearing on 9/11/2015 at 09:30 AM before Judge Dolly M. Gee. (Zachary, Michael)
Att: 1 Proposed Order

Monday, June 29, 2015
22 motion Refund of Fees Paid (G-124) Mon 11:45 AM
APPLICATION for Refund of Fees Paid filed by Plaintiffs Angela Hovind, Lianna Kabbash. (Gibbs, Eric)
Att: 1 Exhibit Pay.gov Confirmation

Friday, June 26, 2015
21 notice Appearance Fri 10:00 AM
NOTICE of Appearance filed by attorney Jacob Michael Harper on behalf of Defendant The Jewelry Channel, Inc. USA (Attorney Jacob Michael Harper added to party The Jewelry Channel, Inc. USA(pty:dft))(Harper, Jacob)

Thursday, June 25, 2015
20 order Appear Pro Hac Vice Fri 9:42 AM
ORDER ON APPLICATION OF NON-RESIDENT ATTORNEY TO APPEAR IN A SPECIFIC CASE PRO HAC VICE by Judge Dolly M. Gee: granting16 APPLICATION to Appear Pro Hac Vice by Attorney Gregory F. Coleman on behalf of Plaintiffs, designating Eric H. Gibbs as local counsel. (lt)
19 order Appear Pro Hac Vice Fri 9:40 AM
ORDER ON APPLICATION OF NON-RESIDENT ATTORNEY TO APPEAR IN A SPECIFIC CASE PRO HAC VICE by Judge Dolly M. Gee: granting17 APPLICATION to Appear Pro Hac Vice by Attorney Mark E. Silvey on behalf of Plaintiffs, designating Eric H. Gibbs as local counsel. (lt)
18 notice Appearance Thu 4:56 PM
NOTICE of Appearance filed by attorney Russell I Glazer on behalf of Defendant The Jewelry Channel, Inc. USA (Attorney Russell I Glazer added to party The Jewelry Channel, Inc. USA(pty:dft))(Glazer, Russell)

Tuesday, June 23, 2015
17 motion Appear Pro Hac Vice Tue 5:01 PM
APPLICATION for attorney Mark E. Silvey to Appear Pro Hac Vice (PHV Fee of $325 receipt number 0973-15964375 paid.) filed by Plaintiffs Angela Hovind, Lianna Kabbash. (Gibbs, Eric)
Att: 1 Proposed Order
16 motion Appear Pro Hac Vice Tue 4:56 PM
APPLICATION for attorney Gregory F. Coleman to Appear Pro Hac Vice (PHV Fee of $325 receipt number 0973-15964222 paid.) filed by Plaintiffs Angela Hovind, Lianna Kabbash. (Gibbs, Eric)
Att: 1 Proposed Order

Monday, June 22, 2015
14 stip Extending Time to Answer (30 days or less) Mon 1:12 PM
STIPULATION Extending Time to Answer the complaint as to The Jewelry Channel, Inc. USA answer now due 7/24/2015, re Complaint (Attorney Civil Case Opening),2 filed by defendant The Jewelry Channel, Inc. USA.(Zachary, Michael)

Friday, June 19, 2015
13 notice Appearance Fri 11:35 AM
NOTICE of Appearance filed by attorney Michael N Zachary on behalf of Defendant The Jewelry Channel, Inc. USA (Attorney Michael N Zachary added to party The Jewelry Channel, Inc. USA(pty:dft))(Zachary, Michael)

Thursday, June 04, 2015
12 order Minutes of In Chambers Order/Directive - form only -no proceeding held Thu 4:44 PM
MINUTE ORDER IN CHAMBERS: PILOT PROJECT RE SEALED DOCUMENTS by Judge Dolly M. Gee. (See order for details.) (kti)
11 order Initial Order upon Filing of Complaint - form only Thu 4:43 PM
INITIAL STANDING ORDER upon filing of the complaint by Judge Dolly M. Gee. (See order for details.) (kti)

Friday, May 29, 2015
10 attorney Filing Fee Due on Pro Hac Vice Application (G-109) - optional html form Fri 8:29 AM
NOTICE OF FILING FEE DUE on Pro Hac Vice Application mailed to attorney Mark E. Silvey for Plaintiffs Angela Hovind, Lianna Kabbash. Pro Hac Vice application has not been received by the court. Please return your completed Application of Non-Resident Attorney to Appear in a Specific Case, form G-64, or a copy of the Notice of Electronic Filing of your application and the $325.00 fee and this notice immediately. Out-of-state federal government attorneys who are not employed by the U.S. Department of Justice are required to file a Pro Hac Vice application;no filing fee is required. You have been removed as counsel of record from this case for failure to submit this filing fee. (esa)
9 attorney Filing Fee Due on Pro Hac Vice Application (G-109) - optional html form Fri 8:27 AM
NOTICE OF FILING FEE DUE on Pro Hac Vice Application mailed to attorney Gregory F. Coleman for Plaintiffs Angela Hovind, Lianna Kabbash. Pro Hac Vice application has not been received by the court. Please return your completed Application of Non-Resident Attorney to Appear in a Specific Case, form G-64, or a copy of the Notice of Electronic Filing of your application and the $325.00 fee and this notice immediately. Out-of-state federal government attorneys who are not employed by the U.S. Department of Justice are required to file a Pro Hac Vice application;no filing fee is required. You have been removed as counsel of record from this case for failure to submit this filing fee. (esa)
8 service Summons Issued (Attorney Civil Case Opening) Fri 8:25 AM
21 DAY Summons issued re Complaint,2 as to defendant The Jewelry Channel, Inc. USA. (esa)
7 adr Notice to Parties of Court-Directed ADR Program (ADR-8) - optional html form Fri 8:21 AM
NOTICE TO PARTIES OF COURT-DIRECTED ADR PROGRAM filed. (esa)
6 notice Notice of Assignment to United States Judges (CV-18) - optional html form Fri 8:20 AM
NOTICE OF ASSIGNMENT to District Judge Dolly M. Gee and Magistrate Judge Michael R. Wilner. (esa)

Thursday, May 28, 2015
5 misc Declaration Thu 4:33 PM
DECLARATION of Eric H. Gibbs re Complaint (Attorney Civil Case Opening),2 Declaration of Plaintiffs’ Counsel Pursuant to California Civil Code Section 1780(d) filed by Plaintiffs Angela Hovind, Lianna Kabbash. (Gibbs, Eric)
4 notice Certificate/Notice of Interested Parties Thu 3:54 PM
Certification and NOTICE of Interested Parties filed by Plaintiff Angela Hovind, Lianna Kabbash, (Gibbs, Eric)
3 notice Summons Request Thu 3:46 PM
Request for Clerk to Issue Summons on Complaint (Attorney Civil Case Opening),2 filed by Plaintiff Angela Hovind, Lianna Kabbash. (Gibbs, Eric)
2 cmp Complaint (Attorney Civil Case Opening) Thu 3:24 PM
COMPLAINT Fee Exemption in accordance with statute, filed by Plaintiff Angela Hovind, Lianna Kabbash. (Attorney Eric H Gibbs added to party Angela Hovind(pty:pla), Attorney Eric H Gibbs added to party Lianna Kabbash(pty:pla))(Gibbs, Eric)
Att: 1 Filing Fee Receipt
1 misc Civil Cover Sheet (CV-71) Thu 12:13 PM
CIVIL COVER SHEET filed by Plaintiffs Angela Hovind, Lianna Kabbash. (Gibbs, Eric)


(sjain_13) #206

I may be totally wrong…But If i am a seller of a customised product that involves creativity, I can value the product as I feel and try and sell the product at that value…There is no MRP…This combined with definition of Estimate value on VGL website, should give sufficient protection to VGL in this case.

Please share your views


(Varadharajan Ragunathan) #207

Nope - you need to prove that some purchases actually happened at the full price to prove that your discount was not mis leading. Otherwise, the discoount claim will be considered mis leading and bogus.

let’s see how the company can prove it.


#208

You are WRONG here, they say it is estimated retail price in high street shops (which has lots of overheads) & these kind of products doesn’t have fixed price… ANyway, we can not fight case on behalf of VGL, so lets wait for decision on this case…anyway I am waiting for Q2 results to put more money,so lets keep our finger crossed till than…


(Utsav Shrivastava ) #209

Read this and see if you still want to buy the stock

http://mythreecents.com/reviews/liquidation-channel

Disc: tracking but thankfully not invested


(Varadharajan Ragunathan) #210

Thanks - I used to get worried about poor customer reviews (stated in the thread earlier) but now I figured that these can by themselves become black swan event.

A good learning


(roysavio) #211

I went through the reviews. Turns out there wasn’t a single positive review. So maybe those who are satisfied never come back and those that aren’t are always the one posting reviews. This is my personal experience and I am just playing devil’s advocate here. We are silent when we get what we want. And maybe if they were really that bad, they’d have shut shop by now.

I liked one of the earlier comments in the thread. It seems from here the downside is limited. However, if the sales were to turn around, there could be substantial gains to be made. I am holding for now and monitoring the company closely. This obviously, is not a high-conviction bet. :smile:

Thanks for that link @thestocklady.


(Brijesh Mahawar) #212

Then you should also look at the reviews for HSN and QVC to reach some kind of conclusion:

http://mythreecents.com/reviews/hsn

http://mythreecents.com/reviews/qvc

Disc: Invested


(Kohsah) #213

It is true that people tend to write bad reviews rather than good ones (personal experience).

To make a comparison look at this site : https://www.trustpilot.com/review/www.flipkart.com

If you read most of the reviews there, you would never buy anything on flipkart.


(CommonStocks) #214

I once missed a 10 bagger in Symphony by selling out a decently built up position after the stock was consolidating in a range without going anywhere, backed by continious negative reviews on their own Facebook page (and elsewhere). When looking at online reviews always look at the population size/customer base. If you are selling to millions there will always be those negative reviews online and as @roysavio has said we seldom write a positive review when the product works as expected. Who has got time to write positive/neutral reviews when the product has done what it was expected to do.


(M S S Murthy) #215

As against the negative reviews we can take the 1.72 million or so customers as a deemed positive reviews .


(jainaj) #216

Shawna Durk‎Liquidation Channel
August 15 at 9:31pm · Barstow, CA, United States ·
YOU GUYS ARE SO BAD, YET SO GOOD lol… I love your site!! I cannot believe the amazing deals I have gotten. I won a beautiful Pandora style bracelet with a dangling watch for only $3.00 and a beautiful ceramic style band watch with floating crystals for only $5.00. Yes, I have a watch fetish as you can see lol Thank you for the great deals. Now shhhhh dont tell my hubby I bought more watches lol.

Linda DaSilva Donahue‎Liquidation Channel
August 9 at 5:14am ·
loving the show .bali legacy is my passion. I’m hoping to find a pendant to match ring I bought a while ago. Here a picture of the ring the stone is moon stone. please let me know if you have the pendant available …thank you .keep up the great work you’re a great station

Nancy McKee‎Liquidation Channel
July 1 ·
For over 50 years I have had a severe nickel allergy…so much so that no metal could touch my skin for very long or I would break out in a severe rash and blisters. So throughout my life I just never allowed myself to get interested in jewelry. The nickel free stuff I saw in department stores looked so cheap. Then my sister introduced me to the LC and OMG…I am trying to make up for the last 50 years. I really love learning about the different gem stones and settings too. You’ve open a new door to me and I absolutely love it. Now…I can wear all your nickel free jewelry that I have bought without worry. If anyone has a nickel allergy and are afraid to buy LC nickel free…Don’t Be. If I can wear it, you can too. Thank you LC for making Nickel Free jewelry that is beautiful, well made and affordable.

Karen LeBlanc‎Liquidation Channel
June 29 ·
I am a regular shopper at the LC, matter of fact my TV is on your channel almost 24/7. Besides gorgeous jewelery and classy ladies, glad to see you have eye candy for us girls too. You guys ROCK!

These are some reviews I found on visitors comments of facebook page. And they are recent ones unlike @thestocklady which were dated 3 years back. What do you say now?


(Shyam Sunder R) #217

Hello All - My first post at Valuepickr.

Just saw that VGL has informed BSE on the class action suit filed against it.
http://www.bseindia.com/corporates/anndet_new.aspx?newsid=eaa4b056-eb58-4eaf-a928-8fa3d34257ce&param1=1

“Vaibhav Global Ltd has informed BSE that two individuals filed a class
action lawsuit against Liquidation Channel (a VGL subsidiary) in the
United States District Court for the Central District of California, Los
Angeles Division. The individuals seek class certification on behalf of
other consumers in United States as well who were allegedly deceived by
Liquidation Channel’s allegedly false and misleading “Estimated Retail
Values” (“ERVs”) and discounts based on the ERVs. Liquidation Channel
has robust processes to come to the ERVs and management believes the
lawsuit is meritless. Liquidation Channel will be defending against the
lawsuit vigorously. As part of its defense strategy, Liquidation Channel
filed a motion to dismiss the lawsuit in July 2015.”


#218

Now everybody should be happy… VGL has disclosed this to BSE even before 1st hearing, which is planned on Sept 11th…

Friday, July 24, 2015
24 notice Certificate/Notice of Interested Parties Fri 12:15 PM
CERTIFICATE of Interested Parties filed by defendant The Jewelry Channel, Inc. USA, identifying Genoa Jewelers and Vaibhav Global Ltd… (Zachary, Michael)
23 motion Dismiss (cause or other) Fri 12:12 PM
NOTICE OF MOTION AND MOTION to Dismiss The Complaint Pursuant to Fed.R.Civ.P. 12(B)(6) and Fed.R.Civ.P. 9(B) filed by defendant The Jewelry Channel, Inc. USA. Motion set for hearing on 9/11/2015 at 09:30 AM before Judge Dolly M. Gee. (Zachary, Michael)

They might be working to get this resolved without fighting this, that could be the reason for wait for 2 months before disclosing it to BSE… So, what you ppls feel now about ethics & value of VGL & its promoters??


(Amit Aggarwal) #221

Folks,

Just a gentle reminder as highlighted by admin in several threads earlier.

Everyone is requested to think twice before posting -
a) Am I adding value to the existing discussion
b) Am I taking the discussion forward by quoting relevant/new information or facts
c) Am I adhering to the VP Culture of always being polite, and respecting other/contrary viewpoints, or am I being self-righteous in wanting to prove a point at any cost, with a couldn’t-care-less attitude

Regards,
Amit


#222