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Read more33PCT Owner Of WSO2/INFRAMON & Founder Of Pacific Control Systems Dubai-Dilip Rahulan Jailed For 3 Years
Oct 2, 2017
Dilip Rahulan jailed
DUBAI, UAE - October 2, 2017 /MarketersMedia/ —
Dilip Rahulan, an Indian-born Australian national founding executive Chairman of technology company Pacific Controls, Dubai has been jailed for three years in absentia, according to Dubai court documents.
Dilip Rahulan was sentenced to three years in prison on 27 December 2016 for “issuing in bad faith dud cheques for AED 21,852,500 equivalent of about USD 5.9 million” and on January 21st Dubai public prosecution issued his arrest warrant
The complainant Indian national Shah Tejashkumar Vinodchandra, reported that Dilip Rahulan signed two cheques totalling AED21,852,500 ($5.9 million) that were later returned unpaid due to insufficient funds, according to the court documents.
Shah has won both; the criminal case against Dilip Rahulan and civil case against Pacific Control Systems. Dubai court has already issued orders to liquidate Pacific Control Systems and Dilip Rahulan assets in the UAE
We are in process of Liquidating PCS ans Dilip Rahulan assets in Dubai,In case we do not recover our funds
We will request jonourable Dubai courts to luquidate overseas assets of PCS which includes 33pct ownership of WSO2 and Inframon ownership
Dilip Rahulan is presently living in the USA
As executive chariman of Pacific control Systems he borrowed over USD 400 million from banks & known people in the UAE .Pacfic control systems have defaulted on repayments leaving behind assets of under USD 200 million and syphoning off about USD 200 million from the company.
Dilip Rahulan had preplanned the fraud, Pacific control systems bought 33pct share in Inframon and WSO2 in 2015. INFRAMON is now acquired by ENSO & 70pct of WSO2-Telco is acquired by AXIATA.
Money have not come back to Pacific control systems in Dubai
Intel capital/CISCO capital and Toba capital are anchor investors @WSO2.
Pacific control systems invested 20 Million dollars in WSO2 to own 33pct of WSO2.
The investment in WSO2 is pacific control system UAE property and not property of Dilip Rahulan as an individual through Dilip Rahulan have 100pct power of attorney of Pacific control systems
We hope WSO2 will not part money with Dilip rahulan as an individual otherwise WSO2 can be charged with money loundering or party to facilitate fraud
Contact Info:
Name: TEJAS
Organization: VAMA FZCO
Address: POBOX 114139.DUBAI.UAE
Phone: +971506539145
Video URL: http://N/A
For more information, please visit http://N/A
Source: MarketersMedia
Release ID: 241589
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