Mauritius

October 21, 2013

Alleged Fraud In The Offshore - Jaye Jingree: "It Is Because Of A Dispute With Shareholders"

This case is at the center of debate in the financial sector. This, after the Indian businessman Kolanda Reddy, majority shareholder and director of Velankani Holding Mauritius Ltd., Mauritius shareholders accused of fraud Rs 240 billion.

Jaye Jingree CEO Kross Border, company specializing in offshore , argues that these allegations are unfounded . And continues all this stems from a dispute between Kolanda Reddy and minority shareholders.
To the press Thursday , Jaye Jingree has insisted : " We face the actions of a man because Kross Border refused to act as he wished . " For him , everything is triggered following a dispute between Kolanda Reddy holds 60% shares of the company and shareholders. Since Kross Border did not want to side with Kolanda Reddy, things would bodied . Justice has even been entered.
Jaye Jingree continues this whole thing is a setup : "Through his lawyer, he gave us a proposal. He was willing to withdraw the case if we resigning with immediate effect. We have not given up. " Before adding that Kolanda Reddy wanted another company that manages Kross Border Affairs Velankani Mauritius Holding Ltd .
The CEO of Kross Border does not go to say that dead hand " Kolanda Reddy, to save his skin, is accusing the innocent and to adopt a strategy of diversion ." In that it is alleged forgery and false for transactions amounting to Rs 240 billion [ USD $ 8 billion ] , he replied that all decisions are made and approved after Kolanda Reddy put his signing , in addition to attending meetings by teleconference.
For the CEO of Kross Border, there is no doubt that this case jeopardizes the financial sector in Mauritius : "We have lodged a complaint against me. I'm surprised since we have not yet asked me . They will not let me explain. "He said nevertheless believe in the justice of Mauritius and that justice will triumph .
Note that Dhanun Ujoodha , 48 years and director of the company Kross Border, was arrested Thursday by detectives of the Central CID . He was questioned on transactions amounting to USD 8 billion , following allegations of Kolanda Reddy . He rejects the allegations made against him and says Kolanda Reddy was present in all meetings and signed the "written resolutions ."
Dhanun Ujoodha was brought before the court in Port Louis where a provisional charge of " forgery and conspiracy " was brought against him. He was released against a bond of Rs 15,000 and an acknowledgment of debt of Rs 50,000 . 

 

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