Mora/Parika IMC Chairman sued for $$M by former business partner

Jun 26, 2010 News

– sexual advances to partner’s wife cited

Chairman of the Interim Management Committee of Mora/Parika, Essequibo, Parmanand Samlall, will appear in the Commercial Division of the High Court on August 4 to answer a suit for more than $54 M, brought against him by Yogeshwar Bhola of Parika.
The writ was filed by Attorney-at-Law Anil Nandlall and served on Samlall on Thursday.
According to the writ, Bhola, a Parika businessman and an electrical contractor, and Samlall were close friends and business partners for several years.
As a result of this relationship, their financial transactions with each other, from 1998, were conducted in a very informal manner.
Samlall being a building contractor in addition to being the Chairman of the IMC, and Bhola, worked together on several housing projects, including some at Tuschen Housing Scheme, East Bank Essequibo.
Bhola provided the labour, tools, materials and services as an electrical contractor and Samlall provided the services of a building contractor.
Samlall also owns a large plot of land at Greenwich Park, East Bank Essequibo, which he has developed into a housing scheme; he has partitioned the land into individual house lots, some of which were sold as vacant land and others on which houses were built and then sold.
According to the arrangement between the two, Bhola used his own finances to supply all electrical services, materials and labour at the various housing projects of Samlall, who agreed to pay whenever his customers paid him. As a result, the two kept running accounts with each other.
Up until last April, Bhola supplied $16 million worth of electrical services, materials and labour at various locations. Despite requests and demands for payment from Bhola, Samlall refused to pay.
Samlall has also refused to pay Bhola a half share of a Caterpillar Excavator purchased in 2005, for use in the development of the Greenwich Park, housing scheme.
Samlall is in possession of the excavator and continues to use it.
Additionally, in January of last year, Samlall went into partnership with a Vergenoegen businessman, and purchased a sawmill in partnership with the man.
The arrangement between the two was that they would run, operate and manage the sawmill business as partners and that they would share equally in the profits thereof.
In January of this year, Samlall approached Bhola and told him the businessman no longer wished to be a part of the venture, and he invited Bhola to invest with him.
Bhola joined him as a business partner on an oral agreement, and spent over $30 M in the business.
Bhola also lent Samlall large sums of cash between 2008 and this year.
The friendship and business relations and ventures between Samlall and Bhola came to a sudden and abrupt end when Samlall allegedly made certain inappropriate sexual advances towards Bhola’s wife, Hawantie Bhola, in April.
Bhola is now demanding more than $54 M from Samlall, as well as an injunction restraining him or his agents, from selling or otherwise disposing of his assets until the hearing and determination of the case.

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Mora/Parika IMC Chairman sued for $$M by former business partner

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