· Harassed and Hounded Nazir Mussa appeals to PM,
Maha CM to ensure his case is not repeated
NEW DELHI: At a time when
the Union and various State governments are aggressively pushing the ‘Make in
India’ drive, misuse of legal system and police machinery can severely impact
the ambitious initiative, said UK-based businessman Nazir Mussa, who was jailed
on the basis of, what he called, a
fictitious case.
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| Nazir Mussa |
“I have been jailed for 28
days at Arthur Road prison in Mumbai under horrible conditions and without any
charge on the basis of a fictitious case filed by influential Indian
businessman Shobit Rajan who apparently had an axe to grind with my nephew
Arnool Jamal in connection with a dispute over a 13-acre prime commercial plot
worth thousands of crores of rupees,” said Mussa.
“I appeal to honourable
Prime Minister Mr Narendra Modi and honourable Maharashtra Chief Minister Mr
Devendra Fadnavis to ensure that such cases are not repeated as it will shake
the global businessmen’s confidence in Indian legal system,” he said in a
statement from London.
Mussa now stands vindicated
as Justices Jagdish Singh Khehar and C Nagappan of Supreme Court heard the
petition ruled: “No ground for interference is made out in exercise of our
jurisdiction under Article 136 of the Constitution of India.”
“The special leave petition
is accordingly dismissed. As a sequel to the above, pending interlocutory
applications also stand disposed of,” the order said.
Senior advocate Kapil Sibal
and along with advocates Mahesh Agrawal appeared for Rajan, while Senior
counsel Aryama Sundaram, Dr. A M Singhvi, Sajid Mohamed along with Aman Vachher
appeared for Mussa.
On the basis of a complaint
filed by Indian businessman Shobhit Rajan, Mumbai police had picked up Mussa
from the CCI while he was playing cards with his friends on a late evening in
June 2014 and detained him in jail without charge for 28 days.
The Bombay High Court had
subsequently quashed the criminal case proceedings against Mussa and freed him
on bail which Rajan challenged through his SLP.
My only fault appeared to be
that Jamal is my nephew and I issued a bonafide net worth certificate to him to
avail a bank loan. I am a UK certified CA and my stand has been vindicated by
the Indian courts for which I am eternally grateful,” said Mussa.
“This is a clearcut case of
misusing the police machinery to suit a businessman’s vested interest which we
have told the courts,” he said.
Mussa had argued before the
High Court that Rajan filed the case “with vengence against him apparently to
hide his own acts of misdeeds and fraud to usurp control of the prime property.”
Jamal pointed out and filed cases with
Saki Naka police in Mumbai.
The case arises out of a
long standing corporate war between Jamal, a Canadian businessman based out of
Kenya, and Rajan over the prime land earlier owned by Parke Davis on which a
massive commercial property development called Logitech Park has been built.
Realty analysts say the
property is valued at over Rs 3,500 crores.
Jamal, through his fully
owned Akkadian Housing Infrastructural Pvt. Ltd, had entered into a 50:50 JV
partnership with Rajan to a float a company called Pantheon Infrastructure Pvt.
Ltd for acquiring and developing the property back in 1999.
Jamal alleged that Rajan,
after the acquisition of the land by the JV, coaxed him to dilute his 50% share
holding in Pantheon to 28.33% in favour the latter’s own people on the pretext
of bringing in expertise to develop the property.
Trouble started after the
property was developed which housing many IT companies and MNCs.
In a retaliatory move, Rajan
filed a criminal complaint with a metropolitan court alleging that Mussa issued
a false certificate showing Jamal’s net worth to be USD 42.8444 million in 2001
to enable him to borrow from ICICI Bank to complete the transaction of the land
purchase.
The magistrate directed the
Mumbai police to investigate the complaint in August 2013. The case was later
transferred to the Economic Offenses Wing of the Mumbai police which arrested
Mussa in June 2014.
Mussa subsequently applied
to the High Court with a criminal writ petition contesting the proceedings and
the division bench of the HC set aside and quashed the FIR. Shobhit Rajan
subsequently challenged the order before the Supreme Court, which was
dismissed.
Earlier, the Bombay High
Court had not found any substance in the allegations against Mussa and ordered
that he be freed on bail and permitted him to travel aboard. The court upheld
Mussa’s contention that the net worth certificate issued by him was genuine and
that he is a professional CA.
Interestingly, the High
Court division bench also observed, none of the banks involved in the financing
of the project raised any complaint against the certificate's veracity.
Following the rejection of
the case sought to be built against Mussa, Rajan – and not the Mumbai police -
filed an SLP at the apex court which
dismissed the petition.
Pantheon, now controlled by
Rajan, unceremoniously threw off Jamal from the Board in 2004.
Challenging this, Jamal
moved the Company Law Board seeking redress against Rajan and the Pantheon
Board’s actions. The CLB initially expressed surprise at the way Jamal was
treated but subsequently directed him to exit the company with the compensation
of 6.6% of the original land cost, and not of the value of his shares.
Jamal challenged this in the
Bombay High Court but lost the case.
Recently, the Supreme Court
admitted a SLP filed by Jamal, allowing him to return to the Board of Pantheon
and reinstated his equity holding of 28.33%.
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