PETALING JAYA: National Feedlot Corporation Sdn Bhd chairman Datuk Seri Dr Mohamad Salleh Ismail has expressed thanks to the High Court for exonerating him and his family of misusing the RM250mil loan granted to the company.
"I would like to express my gratitude to God that the allegations cast upon me and my family for over 12 years have been proven false.
"The decision made by the High Court of Kuala Lumpur on Oct 13, presided over by Judge Anand Ponnudurai, clearly and unequivocally vindicates me and my three children of the accusations that have been thrown at us since the NFC trial that began in 2012 and earlier.
"Although I was previously 'convicted' in the court of public opinion, I am grateful that on this Friday, the most important of all days, the country's legal system upheld the truth and exonerated me and my family," he said in a statement on Saturday (Oct 14).
Salleh said that his wife, former minister Tan Sri Shahrizat Abdul Jalil, also became a victim of political slander and persecution.
"When she willingly resigned from the Cabinet due to the allegations, I, too, was deeply saddened," he said.
The lawsuit, instigated by the Federal Government against NFCorp and ten other defendants – including Salleh and his three children – concluded with Judge Anand ruling out any misuse of the loan or breach of fiduciary obligations.
On Friday, Judicial Commissioner Anand Ponnudurai gave his decision that the defendants – NFCorp, its chairman Datuk Seri Dr Mohamad Salleh Ismail and nine others – would have to pay approximately RM33.7mil to the government for the failed National Feedlot Cattle programme.
He also ordered the defendants to return land in Gemas, Negri Sembilan and in Putrajaya, as well as properties at One Menerung Bangsar in Kuala Lumpur to the government, the beneficial owner of these properties.
However, Anand stated that it was not unlawful for the defendants to utilise part of the loan sum to invest in properties in the company's name. In this regard, NFCorp was not in default of the loan and implementation agreements.
Labelling the case a "debacle," Anand also invoked the decision to terminate the entire project. This means that the NFC project is officially terminated.
Although this civil suit was for RM250mil, Anand did not award the government the total amount it was claiming.
The RM33.7mil is the balance from the RM250mil that was not utilised.
Anand additionally ruled that the government was also entitled to RM86.9mil that it had previously seized from the defendants, which is currently held in escrow by the Accountant-General.
