Fight for Justice: Dawood Rawat’s Daughter Files Injunction Against BAI Asset Deals!

The former Chairman Emeritus of the now defunct British American Investment Group, Dawood Rawat, has inited fresh legal action befpre the Supreme Court’s commercial division to contest the “expropriation” of his business group in 2015.

On Tuesday, 11 March 2025, Rawat, represented by his daughter and proxy, Laina Rawat-Burns, filed for an injunction aimed at preventing any further transactions related to assets connected to the defunct BAI until the legality of the “expropriation” is determined by the court.

In her submission, Laïna Rawat-Burns asserts that “no financial compensation” can truly rectify the damage done to her father’s reputation, the dismantling of his business group, and the emotional distress caused to their family.

The assets under scrutiny include Wellkin Hospital (ex-Apollo Bramwell Hospital), for which a bid of Rs 1.6 billion was reportedly turned down along with financial interests such as deposits at Silver Bank and BA Insurance. Additionally, properties situated in Rose-Hill, Grand-Baie, and Plaine-Lauzun are also part of the claim.

In her affidavit, Laina Rawat-Burns, the transfer and sale of these assets were conducted under “opaque” circumstances, often at prices “below market value.”

She highlights the example of shares in Britam Holdings in Kenya, which were initially valued at Rs 4.3 billion but were sold for Rs 2.4 billion, disregarding higher competing offers.

The legal complaint is directed against the National Property Fund Ltd (NPFL) and the National Insurance Company Ltd (NICL), responsible for managing the assets from the former BAI.

It also includes the Bank of Mauritius, which revoked the license of Bramer Banking Corporation. The Financial Services Commission (FSC), the Director of Insolvency Georges Elie Chung Ming Man, Mohamad Yacoob Ayoob Hajee Allymamode Ramtoola, PricewaterhouseCoopers Ltd, and former ministers Vishnu Lutchmeenaraidoo and Roshi Bhadain are named as co-defendants.

Moreover, Rawat is challenging a report by nTan Corporate Advisory that was used by the previous MSM-led government to justify the dismantling of the BAI group.

The report itself admits to certain limitations in its analysis, stating, “We make no representation to any other individual or entity as to the accuracy or completeness of the contents of this report.” Rawat argues that this disclaimer undermines the report’s credibility as a basis for governmental decisions.

Returning to Mauritius after nearly a decade away, Dawood Rawat, the former Chairman Emeritus of the British American Investment (BAI) group, has once again captured public attention. Accompanied by his daughter, Laina Rawat-Burns, he lodged an important legal request with the Commercial Division of the Supreme Court on Tuesday, 11 March 2025.

Dawood Rawat is calling for an injunction to pause any further dealings involving the assets of the now-defunct BAI until a ruling is made on the legality of the “expropriation” of his company that took place in 2015.

In a moving statement relayed through his daughter, Rawat contended that “no financial compensation” could truly deliver the justice he is seeking.

He reflected on the “dismantling of his group, the damage to his reputation, and the emotional distress endured by his family.”

The assets under scrutiny include several notable properties, such as the Wellkin Hospital, which reportedly received a bid of Rs 1.6 billion that was declined.

Other items of interest involving financial stakes, like deposits with Silver Bank, the management of the former BAI Insurance, and various plots of land in Rose-Hill, Grand-Baie, and Plaine-Lauzun.

Rawat’s Plea

Rawat’s plea emphasized that the sale or allocation of these assets occurred under “opaque” circumstances, often at prices “below market value.”

A striking example provided by Laina Rawat-Burns concerns the sale of shares in Britam Holdings in Kenya, initially appraised at Rs 4.3 billion yet sold for just Rs 2.4 billion, despite better offers being available.

The complaint targets the National Property Fund Ltd (NPFL) and the National Insurance Company Ltd (NICL), both of which manage the assets stemming from the BAI’s dissolution.

Other parties implicated include the Bank of Mauritius, responsible for revoking the licence of the now-closed Bramer Banking Corporation, as well as the Financial Services Commission (FSC), Director of Insolvency Georges Elie Chung Ming Man, and several notable figures and former ministers, including Vishnu Lutchmeenaraidoo and Roshi Bhadain, who are listed as co-defendants.

At the centre of Rawat’s arguments is a challenge to the report produced by nTan Corporate Advisory, which the previous government cited as justification for dismantling the BAI group.

Significantly, this report admits limitations in its findings, stating:

“We make no representation to any other individual or entity as to the accuracy or completeness of the contents of this report.”

For Rawat, this disclaimer severely undermines the document’s validity as a foundation for the decisions made by the previous administration.

Source: Defi Media