PUTRAJAYA, 30 JUNE: Deepak Jaikishian, a controversial carpet businessman, has been granted an interim injunction against Boustead Holdings Bhd’s wholly-owned subsidiary Bakti Wira Development Sdn Bhd disposing of 19 percent of his stake in Astacanggih Sdn Bhd by a three-member Court of Appeal bench. This is awaiting the outcome of Deepak’s appeal, which is set to be heard on October 8.
The businessman’s appeal for an interim injunction in relation to the 223-acre disputed land between Kapar and Bukit Raja in Klang, Selangor, was, however, denied by the bench.
The Court of Appeal bench led by Justice Datuk Hanipah Farikullah made the decision today. Justices Datuk Azizah Nawawi and Datuk Ahmad Zaidi Ibrahim made up the rest of the bench.
Deepak was represented by attorney Alex De Silva, while Robert Lazar represented Bakti Wira, a subsidiary of Boustead Holdings that was also identified as a party.
On March 25, the businessman filed a motion seeking the court to halt Bakti Wira’s sale of 19 percent of his shares in Astacanggih, as well as the sale, lease, and management of the disputed land.
Deepak has appealed a High Court ruling from last July that denied his request for an injunction to prevent Boustead Holdings and five others from dealing with three plots of land in Kapar and Bukit Raja.
According to his affidavit filed with the Court of Appeal, the parcels of land are owned by Astacanggih, a subsidiary of Bakti Wira. When Datuk Seri Najib Razak was the defense minister in 2005, the aforementioned land purchase was made.
Deepak is also seeking an injunction to prevent Bakti Wira from transferring his 16 million shares in Astacanggih, or 19 percent of his holdings. Bakti Wira paid RM30 million for Deepak’s 80 percent ownership in Astacanggih on December 27, 2012.
In July 2020, the High Court dismissed his appeal for an interim injunction.
He also accused former Prime Minister Najib and his wife Datin Seri Rosmah Mansor, as well as Boustead and Bakti Wira, as defendants in the action, alleging that his company sustained damages as a result of conspiracy, fraud, and undue influence by Najib, Rosmah, and two others in a property purchase.
Deepak alleged that in mid-2005, as a director and majority shareholder of Astacanggih, he inked an agreement with Raja Ropiaah Raja Abdullah, the former Selangor Wanita chairman, over three parcels of land in Kapar and Bukit Raja.
Raja Ropiaah, he alleged, was a nominee or agent of Najib, who was then the defense minister.
He further stated that Astacanggih had paid Awan Megah a RM13 million deposit and that Kuwait Finance House (M) Bhd had submitted an RM72.5 million land bond to the Malaysian government.
Awan Megah, on the other hand, is said to have refused to hand over the original land titles to Astacanggih.
Deepak stated that he was forced to sell 80 percent of his Astacanggih shares to Boustead through Bakti Wira as a result of the alleged conspiracy and involvement from Najib and Rosmah.
He is demanding general damages of RM600 million, exemplary damages of RM50 million, and aggravated damages of RM26 million.
As with Bakti Wira and Boustead last July, Najib and Rosmah were successful in striking out Deepak’s suit, resulting in an appeal hearing slated for October 8.
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Deepak is unable to obtain an interim restraining order against Boustead. Continue reading
