Provisional Charges of Conspiracy: Sanjiv Ramdanee and Premchand Mungur Released
Sanjiv Ramdanee and Premchand Mungur, provisionally charged with conspiracy regarding a loan of Rs 470 million, were released on bail on Wednesday, December 3, 2025. They are alleged to have orchestrated a scheme concerning the disbursement of this loan. Arrested by the Financial Crimes Commission (FCC), Sanjiv Kailash Ramdanee, brother-in-law of former Prime Minister Pravind Jugnauth, and Premchand Mungur, former CEO and President of the Management Credit Forum (MCF) of the State Bank of Mauritius Ltd (SBM), were granted their release by the Port Louis court.
Magistrate Shaheen Inshirah Dawreeawoo made this decision after the FCC did not oppose their release. They are subject to strict restrictions, including two bail amounts of Rs 700,000 each and signing a debt acknowledgment of Rs 5 million. They must also report to the nearest police station three times a week—on Mondays, Tuesdays, and Wednesdays—between 6 AM and 6 PM.
Both Sanjiv Ramdanee and Premchand Mungur are prohibited from interfering with witnesses. They must provide a phone number to the FCC, remain reachable at all times, and are not allowed to leave the country as a Prohibition Order has been issued against them.
Sanjiv Kailash Ramdanee, CEO of Dhyanavartam Ltd, was arrested on December 2, 2025, and spent a night in a detention cell at the Moka detention center. Premchand Mungur was arrested on the same day, marking his second arrest after June 18, 2025. He is already facing a provisional charge of "fraud by abuse of position." Their next court appearances are scheduled for June 10, 2026, for Sanjiv Kailash Ramdanee and March 18, 2026, for Premchand Mungur.
Regarding the disbursement of Rs 470 million, Senior Investigator Mahmad Ahmud Bheekhoo stated that Sanjiv Kailash Ramdanee allegedly acted in concert with Premchand Mungur, who allegedly authorized the disbursement of Rs 470 million to his account. The FCC has already collected testimony from Ramdanee, and the investigation continues.
In an inquiry by Senior Counsel Hervé Duval Jr, assisted by Me Shadmeenee Mootien, the Senior Investigator clarified that Pravind Jugnauth's brother-in-law had been under a "Notice of Departure" since February 2025. Despite this, he was allowed to travel twice with FCC authorization and has always cooperated diligently.
Concerning Premchand Mungur, Acting Chief Investigator Vishal Deepchand recalled a meeting held on July 16, 2024, at the SBM Tower in Port Louis, involving Mungur, Ramdanee, and two other individuals. The investigation highlighted the facilitation process of the loan, marked by a "Breach of SBM Bank Credit Policy."
In response to a question from Me Yashley Reesaul, the Acting Chief Investigator confirmed that an abuse of position had occurred in relation to this loan agreement.
