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Published: Saturday September 4, 2010 MYT 11:40:00 PMUpdated: Saturday September 4, 2010 MYT 11:43:27 PM
Businessman says responding to allegations by Insolvency Department would be subjudice as matter is now in court
PETALING JAYA: Businessman Datuk Vinod Sekhar, cited for two offences under the Bankruptcy Act, says he will not respond to the allegations against him because the matter has been brought to court.
The 42-year-old hoped all parties would stop commenting on the issue as well.
In a three-paragraph statement Saturday issued by his lawyer S. Veerapan, the counsel said: "My client could have responded to the allegations against him, but this would have been subjudice as the matter is now a court case.
"We also can say a lot, but my client has decided against it as it is against the law."
The statement added that the allegations against Vinod were damaging.
On Aug 13, the Insolvency Department filed the committal application against Vinod claiming that he was a director in 25 companies, and had left the country without permission while still a bankrupt.
Vinod was declared a bankrupt on June 8, 2005, for owing credit company Orix Credit Malaysia Sdn Bhd and 11 other companies RM12mil.
In its application, the department said that a check with the Companies Commission of Malaysia had found that Vinod had held directorships of companies, including Petra Management Sdn Bhd and Petra Equities Sdn Bhd, without the permission of the Insolvency Department director-general.
The department also claimed that a check with the Immigration Department had found that he had left country also without permission.
High Court senior assistant registrar Rozianti Mohamed Hanaphi fixed Nov 26 in chambers on Friday to hear the committal application against Vinod.
The businessman, listed in 2008 by Forbes magazine as the country's 16th richest man, has also been recently linked with a RM15mil stake in English Division Two football club Sheffield United.
Dept seeks jail term for prominent businessman
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