Paul Lismore

[Paul Lismore] GOOD GOVERNANCE IN OUR ETAT DE DROIT...

Vendredi 17 Mai 2019

" Fiat justitia ruat caelum: Let justice be done, though the heavens fall!"


Let me first of all introduce you to two cases which you may or may not have heard of, and which proves, as if proof was ever needed, that in our etat de droit, membership of that weird group known as 'nou bann/la cuisine' will dictate whether the basic elements of natural justice and fair play will apply to you or not.

1/ In 2014, when the MSM was in opposition, Mauriplage Beach Resorts (owner of Maradiva 5* hotel, etc) was in debt to the tune of Rs 960 millions; according to its Chartered Accuntants, BDO, (Yes, the same firm that unleashed Yacoob Ramtoolah onto the carcass of BAI/Bramer where he has been feeding ravenously since, and with seemingly undisguised glee...), it had " an accumulated revenue deficit of Rs 666 millions( a sign of the devil, if ever there was one...), a share capital deficit of Rs 338 millions, and net current liabilities of Rs 317 millions as at September 30th 2014". The accuntants concluded that " this may cast significant doubt about the Group's ability to continue as a going concern". In layman's language, Maradiva etc was on the verge of bankruptcy.

According to Axel Chenney who wrote an excellent article on the matter (it is a real pity that in a swamp of quite useless articles in our press, this gem shines brilliantly, if only to show us that our press is capable of much better stuff than the dross it usually serves us...), explained that " 25 mars 2015, (with the MSM in power now...) Mauriplage Beach Resort Ltd (MBRL) tient son assemblée générale annuelle. Les actionnaires et les directeurs (dont Kobita Jugnauth) prennent connaissance du bilan : Rs 70,7 millions de pertes, Rs 964,2 millions de dettes et Rs 605 millions d’emprunts pour Rs 328 millions de capital et Rs 625 millions d’actifs.... La direction décide alors d’initier le plan qui avait capoté sous l’ère Ramgoolam : passer en mode Invest Hotel Scheme (IHS). Ainsi, la direction décide de vendre la moitié de l’hôtel (34 des 65 villas, dont la suite présidentielle) à Mauriplage IHS One Ltd (MIOL), compagnie que MBRL détient à 100 %. Le 29 septembre 2016, la MCB (Where the father of Kobita used to be a Director...) accepte de transférer ses hypothèques au nouveau propriétaire. La SBM (now in the hands of the MSM..) en fera de même le lendemain.
C’est ainsi que le 6 octobre 2016, Kobita Jugnauth, représentante de MIOL (l’acheteur), et son frère Sanjiv Kailash Ramdanee, représentant de MBRL (le vendeur), signent l’acte de vente devant le notaire Didier Maigrot. Montant de la transaction : Rs 1,4 milliard, dont Rs 1,2 milliard pour les villas et Rs 200 millions pour les droits au bail. La formule classique «hors de la vue du notaire» est employée."
In other words, the notary did not actually witness any money changing hands...

Anyway, read the full article which I will append in the comment section and which, as expected, was completely ignored by our 'free and independent' press.

2/ A South African Investment Trust, Mara Delta Property Holdings Ltd, was allowed to inject Rs 4.5 billions into a debt ridden Beachcomber, and now owns 45% of Beachcomber. No problems at all with this. It is a good business deal, and there certainly was no attempt by the KGB to send the SMF to take over the hotel group as it did with BAI/Bramer on 2nd April 2015...

Why have I mentioned these two companies? Because they both primarily belong to the financial elite of this island, one a brown one (Ouch! this will hurt the fesse noires whose ambition, subconsciously or otherwise, is to have a white arse, a la Bollywood actress mode..) backed with the dictatorial powers that we give to all our governments in our so called democracy, and the other one a handful of individuals who have always owned and controlled all the major assets in this country, including our politicians.

I now want you to compare and contrast the above with the actions that a damnably obsessed Vishnu Lutchmeenaraidoo and a very mediocre Roshi Bhadain, aided and abetted by a grossly ungrateful, offensively supercilious Ramesh Basant Roi, took against Dawood Rawat and his companies on April 2nd 2015. The more I think about it, the more my blood boils...not so much because of these quite useless people, but because we have a so called lepep admirab which does only one thing admirably: swallow all the nonsense peddled by mercenary zourlanus and useless, thieving politicians without even attempting to question the veracity of anything written by people seemingly paid by the syllable...

Remember, on 1st April 2015, Ramesh Basant Roi had offered BAI/Bramer a month's respite, provided it could find Rs 350 millions before the end of April 2015. Ask yourself why this offer was removed less than 24 hours later, and the SMF was sent in to 'guard' all the major properties belonging to BAI/Bramer.

And ask yourself what has happened to the money already in the vaults, etc of BAI/Bramer, and please do not exclude the possibility that in Mauritius, bank notes have wings and can fly on demand....and loans can be written off simply by pressing a button.

So, why was Kobita Jugnauth's company allowed to prosper from the verge of bankruptcy simply by the flourish of the pen of her husband? And why were no actions taken against Beachcomber before it too did what Dawood Rawat was well on the way of achieving, i.e. massive investments from outside parties?

And the really worst , most cringe worthy, disgusting aspect of all of this? Consider this: the government called BAI/Bramer a Ponzi, i.e. a criminal enterprise. So, what does it do to clean out the dirt and bring new people to ensure good governance henceforth?

Yes, you have guessed right! The government brings in the top management of BAI/Bramer, i.e. the very people at the heart of this alleged ponzi, to take charge of the institutions created to replace the Ponzi!! People like Shakeel Summun, Esmael Ashraf, Iqra Maudarboccus, Vishal Maloye, Seemadree, Saleem Beebeejaun, Yousouf Ismael (now doing a grand job at CWA..Haha!)

Farouk Hossen, the optician who never fails to see the most appropriate arse to lick and whose son in law is the wonderful Rakesh Gooljaury,(now main supplier of long cucumbers to la cuisine...) etc etc. None of these people have been bothered by the police at all...and yet lepep admirab continues to believe that this was a ponzi! Use your loaf, people!

Rédigé par Paul Lismore le Vendredi 17 Mai 2019

Nouveau commentaire :

Règles communautaires

Nous rappelons qu’aucun commentaire profane, raciste, sexiste, homophobe, obscène, relatif à l’intolérance religieuse, à la haine ou comportant des propos incendiaires ne sera toléré. Le droit à la liberté d’expression est important, mais il doit être exercé dans les limites légales de la discussion. Tout commentaire qui ne respecte pas ces critères sera supprimé sans préavis.