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RM700mil

Now, Najib and Rosmah face two legal suits exceeding RM700mil
Datuk Seri Najib Razak arrives at the Kuala Lumpur High Court October 4, 2018. ― Picture by Firdaus Latif KUALA LUMPUR, Oct 17 —  Amid ongoing legal battles, former Prime Minister Datuk Seri Najib Razak and wife Datin Seri Rosmah Mansor now find themselves at the centre of two more lawsuits, this time involving carpet dealer Deepak Jaikishan.Malaysiakini reported that Deepak has filed an RM676 million suit against the couple and two companies for purportedly conspiring and exerting undue influence on him over three parcels of land near Bukit Raja, Klang.In 2005, the land was privatised by Awan Megah and offered to Astacanggih Sdn Bhd, where Deepak is a majority shareholder, for RM118.57 million.An acquisition agreement reportedly was made two years later.He then claimed that Selangor Wanita Umno chief Raja Ropiaah Raja Abdullah, who owns Awan Megah, had tried to sell the land to GuppyUnip Sdn Bhd in 2010 in spite of their prior agreement.To which, Deepak responded with a legal suit. He said, however, he was pressured by authorities to drop the suit, resulting in multiple “losses”.He also alleged that Najib and Rosmah used Lembaga Tabung Angkatan Tentera (LTAT) to acquire his 80 per cent share of Astacanggih via Boustead through its subsidiary Bakti Wira.Deepak now is seeking for the return of his shares, on top of RM600 million in general damages, RM50 million of exemplary damages and RM26 million in aggravated damages.It is understood that the suit was served on all parties yesterday.Concurrently, Deepak, his younger brother Rajesh Jaikishan, and their company Radiant Splendour Sdn Bhd are also suing Najib and Rosmah for RM52.6 million.The plaintiffs claimed that in 2008, they were forced to take out a RM198 million loan from Bank Rakyat on behalf of the Pekan MP and his wife.They purportedly had to use their ownership of a master title for 80 condominium units in Kuala Lumpur as the deed of assignment.The problem arose in 2013 when they were forced to enter into a settlement agreement with Bank Rakyat following failure to service the loan.Deepak, his brother and their company are also naming Najib’s brother Datuk Ahmad Johari Razak, former Tabung Haji chairman Datuk Seri Abdul Azeez Abdul Rahim and Bank Rakyat chairperson Tan Sri Shukry Mohd Salleh as defendants in the suit, which was filed on September 12.The plaintiffs claimed this was because the loan default had resulted in the appointment of Johari and his firm to sell the condominium at a loss in 2014.Deepak and the other plaintiffs also alleged that Najib and Rosmah pressured them from agreeing to a separate suit filed by the widow of private investigator P Balasubramaniam, A Santamil Selvi and her children.They are now seeking RM10 million each from the five defendants, and another RM2.6 million in exemplary damages and aggravated damages as deemed fit by the court.Today, at the case management session, Deepak’s lawyer Mohd Haniff Khatri Abdulla confirmed that Najib and Rosmah had appointed David Matthews to represent them. [...]
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I-Bhd to sell RM700mil GDV projects
SHAH ALAM: Property developer I-Bhd will be selling residential and office units with a combined gross development value of RM700mil this year. [...]
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