Bank officials quizzed over Rs1.2Billion loan scam

The Central Criminal Investigation Department (CCID) has reportedly resumed the questioning of the “credit underwriters” of the State Bank of Mauritius (SBM) as part of the investigation into the USD30M (Rs1.2Bn) loan granted by the bank to the Dubai-based Renish Petrochem.

The Indian businessman, Hiteshkumar Chinubhai Mehta, the sole shareholder of Renish Petroleum, reportedly disappeared after cashing the loan.

Several SBM executives (including ex- SBM Holdings Chairman, Kee Cheong Li Kwong Wing) were quizzed last year on how such an important loan was granted “in the absence of solid guarantees.”