The Audit Focuses on the Finances of the STCM

The National Audit Office (NAO) is very interested in accounts receivable of STCM Ltd, still active, almost two years after the dismantling of this branch of the STC.

Importing a large amount of Madagascar large peas of poor quality at an exorbitant cost by the management team then under the rule of tandem Ranjitsing Soomarooah / Ah Lan Hing Fat Choy has taken its toll on the finances of the STCM Ltd.

Large traders, who have purchased on credit Madagascan large peas at the time, soon found themselves in a more than difficult.

Debts of Rs 19 million striped

Large retailers have found themselves in a difficult situation because of the poor quality of that grain wheat, rejected by consumers. Angered, they decided to leave their balances outstanding as is. The STCM Ltd has removed the debts of around Rs 19 million in 2007 up until July 15, 2010. The beneficiaries of this act of generosity are Sik Yuen Supermarket, Funny Traders, Shoprite Hyper, Jumbo Riche-Terre, Asraf Self-service King and Savers.

NAO seeks to shed light on this controversial case. The report Bhadain threw a cat among the pigeons, from that "We Did not come across evidence to show That Any management of the STCM Ltd HAVING Any Recourse to legal action for debt recovery Prior to Deciding on the write-offs (.. .) The Board something to ignore advice from the State Law Office and Went ahead with the writing off of Debts amounting to Rs 19,032 660.18 For Reasons Known best to Itself, UNLESS the Board Was Not apprised by the former General Manager of the legal advice obtained ".