Toxic Loan of Rs 470 Million: New Arrest of Premchand Mungur, Former CEO of SBM Bank

Premchand Mungur, the former CEO of SBM Bank (Mauritius) Ltd and president of the Management Credit Forum, has been arrested again by the Financial Crimes Commission (FCC) in connection with the controversial Rs 470 million loan granted in July 2024 to Dhyanavartam Ltd. He was taken to the Port-Louis South Court on Wednesday, December 3, where a provisional charge of 'conspiracy' was filed against him under Article 48 of the Financial Crimes Commission Act.