Toxic Loans of Rs 470 Million: Sanjiv Ramdanee and Premchand Mungar Released on Bail

Sanjiv Ramdanee, the CEO of Dhyanavartam Ltd, formerly known as Mauriplage Beach Resort Ltd, and Premchand Mungar, the CEO of SBM Bank (Mauritius) Ltd and chairman of the Management Credit Forum (MCF) of the same bank, appeared yesterday, Wednesday, December 3, before the Port-Louis South court, following their respective arrests by the Financial Crimes Commission (FCC).

Both men are facing a provisional charge of ...