Pandithan asks Samy to explain petition

  • Nation
  • Sunday, 16 Nov 2003

KUALA LUMPUR: The Indian Progressive Front has asked MIC president Datuk Seri S. Samy Vellu to explain the winding-up petition filed against Maika Holdings Bhd by a firm two months ago. 

Its president Datuk M.G. Pandithan said that as a shareholder and one responsible for bringing in hundreds of shareholders to invest when he was in the MIC, he was duty-bound to raise the matter. 

“When Maika Holdings was formed in 1984 as the party's investment arm, I was the MIC vice-president and was instrumental in getting in the investors. 

“I had persuaded many Indians to contribute generously towards Maika. Many had invested their life savings while some pawned their jewellery and took loans to invest. I had collected more than RM7mil on my own for Maika.  

“Personally, I was one of the first contributors of Maika with RM150,000, collected from family and friends,” he said. 

A newspaper advertisement dated Sept 5 stated that Buildcon Concrete Sdn Bhd filed the petition on July 16, at the Kuala Lumpur High Court's commercial division. The hearing was initially fixed for Oct 9 but was postponed to next March 11.  

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