Dawood Rawat Returns to FCC for New Statement on BAI Group’s Collapse

Former Chairman Emeritus of Defunct BAI Group, Dawood Rawat, has delivered what he calls “solid evidence” to the Financial Crimes Commission (FCC), alleging that the 2015 collapse of his business empire, the British American Investment (BAI) Group, was not an economic failure but a deliberate, orchestrated “political, administrative, and financial” destruction.

Dawood Rawat Cites ‘Proof’ in High-Stakes Testimony

Mr. Rawat, accompanied by his daughter Laina Rawat and lawyer Me Shaan Kundomal, attended on Tuesday, Novemver 25, a four-hour hearing at the Réduit Triangle, having been summoned by the FCC as part of his renewed complaints into the downfall of the ex-BAI.

Emerging from the session, he stated firmly, “I have brought proof” to “re-establish the truth” about the circumstances surrounding the group’s implosion.

He asserted that the crash was never an accident or a structural collapse, but a strategic and programmed destruction.

“I have denounced all those who participated in the setting up of this destruction. They structured it as a strategy,” Dawood Rawat stated.

Allegations Against High-Profile Stakeholders

In his deposition, Mr. Rawat maintained to have named “all the parties involved” in what he presents as a conspiracy. His list includes:

• Public sector figures and government instances from 2015.
• Private sector operators.
• Senior executives of the Bank of Mauritius (BoM).
• International accounting firms.

He specifically accused the accounting firms of playing a crucial role by providing technical expertise to justify, facilitate, or expedite decisions that were detrimental to the group’s interests.

“The accounting firms worked together with the thieves to demolish us,” Dawood Rawat insisted.

Forced Sale of Kenyan Gem and Asset Stripping

A major point of his testimony concerned the forced sale of Britam, the group’s highly profitable Kenyan subsidiary.

Mr. Rawat maintained that he was compelled to accept the cession of the strategic asset “for a symbolic rupee.” He claims a document exists proving the agreement was signed “under duress,” with threats being direct and personal:

“Give us everything you have abroad. We will leave your family alone and give you a house,” he was allegedly told, describing the moment as one of the darkest of his life when his family’s survival took priority.

He further detailed how the acquisition of a Mauritian hospital by a local private group post-BAI was allegedly part of a wider strategy to strip the BAI of its most profitable assets.

Dawood Rawat claimed that a network of “several stakeholders” was “in cahoots,” including an accounting firm, government bodies, and the Mauritius Revenue Authority (MRA), all working to weaken the BAI.

Administrator Accused of Liquidation Strategy

The now-infamous Paris audio recording, which leaked and mentioned influential figures including Sattar Hajee Abdoula, was central to the hearing.

Mr. Rawat stated that recent judicial events concerning Mr. Abdoula, the former SBM Holdings chairman, reinforced his resolve to detail his role in the group’s “deconstruction.”

Rawat claimed that Abdoula’s appointment to a decision-making post marked a turning point.

“When he became administrator, instead of looking for solutions to save the company, he preferred to see how to sell it off piecemeal,” implying a strategy of liquidation rather than rescue.

New Investigations Underway

The BAI Group was dismantled in 2015 following the revocation of the licence for Bramer Bank.

Dawood Rawat expressed confidence that the information he submitted will prompt the FCC to open a new chapter in the BAI Case.

The group’s civil suit for Rs 100 billion remains pending. New investigations are reportedly examining several aspects, including the sale of the Apollo Bramwell hospital, the cession of Britam, and the alleged roles played by various public and private institutions.

Source: l”Express

Source: Defi Media