Nation Current Affairs 25 Jan 2018 Rs 13-crore fraud ch ...

Rs 13-crore fraud charge against Kodiyeri Balakrishnan's son

DECCAN CHRONICLE.
Published Jan 25, 2018, 1:10 am IST
Updated Jan 25, 2018, 1:51 am IST
The contents of the complaint were flashed by a section of news channels.
Kodiyeri Balakrishnan
 Kodiyeri Balakrishnan

Thiruvananthapuram: In a major blow to the state CPM, a Dubai-based company has accused state secretary Kodiyeri Balakrishnan’s son Binoy Vinodini Balakrishnan of cheating it to the tune of Rs 13 crore.

In a complaint,  JAAS Tourism LLC owner Hasan Ismaeel Abdulla Almarzooqui has  sought the India government’s assistance for registering a formal complaint to extradite Binoy  who absconded from Dubai after allegedly cheating his company and his partner of  dirhams 7,000,000 (Rs 13 crore). The contents of the complaint were flashed by a section of news channels.

 

The company alleged that Binoy was a business partner of a Sharjah-based company and friend of Rahul Krishna who was a partner of JAAS Tourism LLC which has been operating in Dubai since 2007. 

Binoy allegedly borrowed 3,13,200 UAE dirhams (approximately 53.61 lakh) on  collateral security for purchasing an Audi car and 45 lakh dirhams for his business deals in India, UAE, Saudi Arabia and Nepal.

Binoy had promised to return the full amount before June 1, 2016. However, he discontinued the repayment of mortgaged vehicle loan following which the bank issued legal notice to JAAS company.

 

It alleged that Binoy had left the UAE before the date committed by him for repayment of loan.  However, both Mr Kodiyeri and Binoy have refuted the allegations levelled by the company. In a statement, Binoy said no case was pending against him in Dubai. "There was a cheque case in connection with my business partner and that has been settled through court. There is nothing against me now as is being alleged," he said.

"I do not know on what basis such baseless reports are coming up. These reports are with ulterior motives,” he said.

Binoy’s statement came soon after  Mr Kodiyeri told mediapersons that his son would clarify on the issue. He maintained that there was no case pending against his son in Dubai.

 

When asked whether the CPM central leadership had received any complaint against  Binoy  from the Dubai-based company, party general secretary Sitaram Yechury  said in Delhi,  “Let us see. Nothing has come.”

With the media going to town with the allegations against Binoy, Chief Minister Pinarayi Vijayan held talks with Mr Kodiyeri at the AKG centre. While the chief minister did  not  react to the allegations,  Mr Kodiyeri termed the charges as ‘baseless’ and said his son was prepared to meet the challenge legally.

The Opposition stepped up its attack on the CPM with Mr Ramesh Chennithala and BJP state president Kumanam Rajashekharan demanding an explanation from the party central leadership.

 

The company claimed that during 2015-17 period,  Rakhul Krishnan had tried to contact Binoy for the repayment of money. But he deliberately evaded him and continued to give false promises.

Rakhul later met Binoy at his residence and during the meeting, he promised to make the  full and final settlement of  the Rs 13-crore loan. But  despite the assurance, he  failed to repay the amount till date.

The cheques given by Binoy were returned by banks because of  ‘insufficient funds.’  Subsequently, the company filed a criminal case against Binoy in Dubai police general headquarters.

 

The Dubai public prosecution proclaimed Binoy as a wilful defaulter in the UAE  and the court asked the  company officials to file a request with the Interpol.  After waiting for two years, Rakhul Krishnan along with his father reportedly met Mr Kodiyeri Balakrishnan who promised  to resolve the issue. But despite his promise, the money was not repaid.

With the repayment getting delayed indefinitely, the company owners approached the CPM central leadership seeking their intervention and mediation in the issue to get their money back.

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