Prasanth Manghat’s hospital and properties seized by London Court on behalf of UAE banks

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Prasanth Manghat and Promoth Manghat's multispeciality hospital in Kerala seized by UAE banks

Prasanth Manghat and Promoth Manghat, two Indian brothers defrauded UAE banks of Rs 30000 crore and constructed a multi speciality hospital in Palakkad, Kerala and Karma News revealed the news about these malayalee brothers earlier. This 1000 crore worth multi speciality hospital, ‘Avitus’, is registered in the name of Manghat brothers wives. The hospital was seized by London court on behlaf of UAE banks against the loan availed and defrauded by Manghat brothers in UAE.  It is not a simple matter that a foreign country is seizing properties from another country.

Prasanth Manghat and Promoth Manghat

By producing forged documents and signatures, Prasanth Manghat availed loan from UAE banks when he was working as the CEO of NMC hospital group. An amount of Rs 5000 crore has been availed from the banks as loan and from this amount, around 3000 crore found missing from the accounts of the hospital. The discrepancy in the money was found in the bank audit. After this, the two brothers found absconding from UAE. The banks has taken legal actions against this and seized the hospital along with the properties in Kerala. In another incident in UAE, Prasanth Manghat tried to embezzle the business empire of another Malayali businessman Sunilan Balan. Prasanth bought Sunilan’s company in UAE and he never paid the amount said in the sale agreement. Prasanth not only cheated Sunilan Balan, also tried to put him behind the bars by putting a fake case.

Prasanth Manghat tried to embezzle the business empire of Malayali businessman Sunilan Balan

Sunilan filed a complaint to the Crime Branch and the investigation discontinued because of the interference from the Kerala CM’s office. It is alleged that the Kerala Chief MInister Pinarayi Vijayan is protecting these brothers as he has got strong relations with them. The 1000 crore worth hospital has been inaugurated by Pinarayi Vijayan. During the initial time of the pandemic in the state, Prasanth Manghat has donated Rs 4 crore to CMs relief fund and Pinarayi Vijayan described these brothers as ‘business role models’. These all are clear evidences indicating CM’s involvement in Manghat brothers case.

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