Prashant Manghat, accused in UAE bank fraud case of $ 2.7 billion A complaint was lodged with the police in Kerala over the fraudulent takeover of the business empire of a Malayalee. Thrissur Crime Branch has lodged a complaint with DySP, a UAE businessman from Thrissur. Sunillan Balan has been doing business in the UAE for 30 years. As an engineer, he started working as a financier, making his own money and then contracting on a small scale electrical works contract. Since then, the company has grown to over 300 employees. The company was involved in the electrical lines and related maintenance work of one of the largest oil companies in the UAE. With that, the institution grew again. The company was named Kell Win Gulf Contracting. It now has an annual turnover of over 500 million dirhams. It is alleged that Prashant had taken Manghat through fraud in 2014. A Malayalee ex-pat has built a good profit-making company for 30 years by giving him blood and water. The accused are Prashant Manghat from Palakkad Nemmara and Tariq Basheer from Kollam.

Prashant Manghat

In the United Arab Emirates, Balan Sunalin has made false cases to not come back. The group did not even pay the chilly cash that was in accordance with the agreement to give the boy to Sunil. It was then that the poor expatriate was caught trying not to return to the Gulf. The money was not given to Balan Sunil in banks and other institutions as per the sales agreement. In the United Arab Emirates, the cases of Balan Sunil are increasing. Sunil’s 25-year-old daughter was in Dubai at the time. Daughter Prashant Manghat and Tariq Basheer threatened the former. The group then brought the boy Sunil and his daughter from Kerala to the brink of suicide and suicide. Campaigned in Kerala as ‘thief’; The name of the man who could not return to the Gulf after cheating from the Gulf has spread in Kerala. Sunilan says that he was prepared to commit suicide many times. With no escape, Balan was handed over the remaining 20% ​​of Sunil’s company in the UAE.

Sunilan Balan\

This 20% stake was worth over Rs 30 crore. But the accused took it for a mere Rs 3 crore. With a 20% shareholding, Balan Sunalin left the company he had built in 30 years. Sunil’s business empire, which was worth hundreds of crores of rupees, was snatched away and paid only Rs. 3 crores. Balan Sunil says Prashant Mangat and Tariq Basheer were cheating on him. In 2014, Dr. BR Shetty’s MMC Company sold an 80% stake in Malayan industrialist Balan Sunil’s Kevin Gulf Contracting position. The broker for this was Tariq Basheer from Kollam, Kerala. They said they were buying the company for Prashant Mangadum and BR Shetty. According to the agreement, 5 million dirhams should be paid in 7 days and 10 million dirhams in 60 days. In addition, employees of the company must be paid the following month’s wages. Balan Sunil has to settle Shetty’s establishment as per the agreement with various bank loans and other financial transactions in the UAE. But according to the agreement, the group did nothing. In the meantime, Balan came to Kerala for his daughter’s marriage. This created a situation that could never come again.

Tariq Basheer

Sunilan returned to the UAE in 2007 after a two and a half year legal battle. The company was bought by Balan Shetty for Dr. BR Shetty, but now it is owned by Prashant Mangat. There are many empires in the UAE who have created many Malayalees and built their tears, sweat, and blood. There are investments made in Kerala with that money. The stories of Malayalees in the Gulf will continue. Sunilan returned to the UAE in 2007 after a two and a half year legal battle. The company was bought by Balan Shetty for Dr. BR Shetty, but now it is owned by Prashant Mangat. Prashant has not come to terms with the agreement. In a statement released by Karma News last week, Tariq Basheer made the revelation. Now Prashant is absconding when he is accused in a Rs 20250 crore bank loan case from the UAE. Tariq Basheer is a Power of Attorney who looks after Prashant’s business.

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