Complaint Review: Incept Holdings Limited

Incept Holdings (BVI) Ltd ARBN 619 121 452 (Foreign Company) registered in Australia on the 16 May 2016. DO NOT INVEST http://www.inceptholdings.com.au/

One of the former Director's of Astra Resources, Colin Oxlade was banned from ASIC for 4 years on the 8 June 2016. He was seen captail raising in Sydney in July 2016 for Incept Holdings and was asking investors to deposit funds into a bank account owned by Irongrow Corporation Pty Ltd. This company currently has a winding up application pending against them from ARK Energy Ltd.

People who could be representing these companies are: Colin Oxlade, Jaydeep Biswas, John Warming, John Buckby, Sam Sothy (Shanmuganathan Gnanasothy), Silvana De Cianni. If you know of any more people involved or have been a victim of these peoples or their companies scams I would like to hear from you, so please email me at inceptholdingsscam@gmail.com . I reported the matter to ASIC however they informed me that there was nothing they could do!!!!!

 From your responses it is clear that you are on a mission to make the directors accountable for the mistakes they have made - (you obviously feel aggrieved and very angry about what they have done to you?) - unfortunately for me as a current shareholder I am clearly hoping that this does prove to be a prudent investment and not a scam and ripoff as you suggest. Only time will tell - but in my position as you can well imagine as one of those small mum and dad investors I have no choice but to ride this until it is no more - here is hoping for a big encore for the littl guys? I too hope in time, expect justice will prevail for all - but for me personally(and for many others), justice is a listing and trading of the shares so we (the small investors) can recoup our money and hopefully some more for the angst we have felt. Constant bashing of the mishandling of the process does not help - so it is a waiting game which I hope will turn positive and not a ripoff as you suggested- obviously I tod you so is something I do not want to hear - I live in hope that the current process the company is following now - is fair and square, legal and we can move on . Be nice if you could find any good news for the mum and dad investors Thanks Lump

I am glad you took a few months to review the court transcripts and sincerely appreciate your input. You only reference December 24th in your opinion. However, I would encourage you to read the Australian Federal Court judgement by Mr. Justice White dated May 20th, 2016 and August 19th, 2016. 

There, among other things, you will understand that: 

• The founders, Jaydeep Biswas and SIlvana DeCianni, that you are defending have been disquliied for 12 years yeach. 
• In the May 20th judgement, Mr. Justice White also references the transfer to incept Holdings in paragraph 190-199. Clearly the transfer was illegal. Securities and Futures Commission of Hong Kong is investigating this matter. 
• In the August 19th, 2016 judgement, Mr. Justice White recognised the London High Court appointed liquidator. Simply put, all Astra Resources subsidiaries now belong to the London appointed liquidators. Mind you, there is a 2 year claw back period.

Anyone can open a a corporation in any jurisdiction and issue shares to the public. However, what good is a shell of a corporation without any assets. In essence, this is exactly what is happening with Incept Holdings. They are claiming assets Astra Resources owns. This issue will be dealt with in due course. But consider this, it's like opening XYZ Corp and saying you own Apple pattends. Complete fraud. And lets not kid ourselves here. Jaydeep and Silvana are still running the company against court orders. The only thing is they have Adele as the face of it. JUSTICE WILL PREVAIL. 

I have been alerted to the below news story a few months ago. I will breakdown the below report as per my current understanding and facts I read in the court transcripts, as follows; There was a court case in the UK that Astra Resources PLC lost against a supplier from the US, the directors of Astra (not the founders) deemed that court decision was not at the best interest of the shareholders or company, so they put the company into administration (not bankruptcy) Prior to the company going into administration, the directors and shareholders in 2012 had already agreed to change jurisdiction of the parent company. So the process to transfer assets and company has commenced a long time before Astra went to administration (refer to the newsletter sent out on the 1st of June 2015).

If you also refer to December 24 transcripts between ASIC vs. Astra specifically that day of the 24th, when the Australian legal representative of Grant Thornton went into to court to discuss if the transfer of assets legal, you will note that Grant Thornton argued against ASIC and cleared Astra of any wrong doing pertaining to the transfer of assets. In regards to ASIC vs. Astra they are in court in regards to only one issue, did the directors knowing sell shares to unsophisticated investors during 2011 / 2012 - The company selling share was Astra consolidation nominees not Astra Resources PLC. That point has been argued for the past 2 years in court, if you refer to the court transcripts you will find that the founders asked 3 separate identities (Lawyers &, Accountants) that the process that was being undertook by the directors of the company was correct.

(The founders were not Directors Astra consolidation nominees during this period a lawyer Barry Merkin was) The founders are still waiting on a judgement call by the judge. Integral are issuing shares in Incept as this is required to by law, as this is a new company and we need to secure a shareholder's investment. You are more than welcome to call Integral, I'm not sure what Integral can tell you, other than they are issuing Incept shares and that Astra does not exist. Avenir does not represent Incept Holdings Limited - we have sent a letter to Small Cap to decease any further communication with any of our shareholders (we sent the letter last week) Adele is Silvana daughter this has no bearing on what is going on - Adele is a competent person doing her very best for the company. The directors of Incept and the listing agents are working on further representation on the board, we will alert our shareholders once we get more information From my perspective the company could have done things better in the past, having said that, the founders and others have worked hard to secure our current projects and to continue their objective to list the company for all our shareholders.