Three potential buyers, one of which is reportedly in collaboration with a Management Company based in Mauritius, have expressed interest in acquiring what remains of the controversial Silver Bank.
Questions surrounding the outstanding debts persist, especially considering that some depositors agreed to restructure their deposits when the same Silver Bank acquired the former Banyan Tree.
Does this imply that state institutions with significant deposits in the Silver Bank will be required to maintain their funds there for an extended period? The resolution may depend on an official manifestation of a buyer, according to l’Express newspaper.
It reported that a South African institution and another from the UK had submitted bids to acquire the Silver Bank in 2022 and 2023, adding that the executives at the Bank of Mauritius (BoM) had nearly completed their due diligence on one of the two contenders that presented the most compelling offer.
Reportedly, a representative of one of the potential buyers shared an unsettling experience following a mysterious phone call advising them, in a threatening manner, to abandon their takeover plans.
Amidst these dramatic developments, concerns over the alleged involvement of Prateek Gupta in influencing the fate of the bank have surfaced, suggesting potential leverage stemming from connections in Mauritius.
Allegations of interference in the acquisition process have led to the retreat of representatives, indicating a complex power play at hand.
According to l’Express, the decision by the Bank of Mauritius to outsource the conservatorship of the Silver Bank to a partner firm raises questions, especially when the BoM has the capacity for such responsibilities.
Unlike past instances where BoM inspectors instilled fear during audits, the recent handling of the Silver Bank case through outsourcing has raised eyebrows.
With substantial funds redirected away from the Silver Bank due to unfavorable exchange rates, further complications arise regarding the institution’s financial stability and the impact on its clients.
Allegations of hidden dealings and undisclosed benefactors, including a secretive fund of USD 5 million, shed light on the murky dealings within the Silver Bank and its entanglements with various stakeholders.
As the intricate web of financial intricacies unfolds, the implications of these revelations may have far-reaching consequences for both the institution and the individuals entangled in its affairs, underscoring the urgency of a transparent and thorough investigation to uncover the truth behind the Silver Bank saga.
Source: l’Express
