Grant Thornton’s Sattar Hajee Abdoula is 30 BAI group firms’ administrator
Sattar Hajee Abdoula, CEO of auditing and accounting major Grant Thornton (Mauritius), has been nominated as administrator to ensure smooth operations of 30 companies of the BAI group, following the huge financial scam of over Rs 25 bn that erupted last week in the island economy. (Image: Grant Thornton)
Sattar Hajee Abdoula, the Chief Executive Officer of Grant Thornton Ltd (Mauritius) has been nominated as the administrator of 30 companies of the British American Investment (BAI) group, in the wake of the huge financial scam of over Rs 25 bn that erupted last week in the island economy.
Accordingly, as many as 30 companies of the BAI group – excluding BAI Co (Mtius) Ltd, Bramer Banking Corporation Ltd and Bramer Asset Management – will be under the management of Sattar Hajee Abdoula.
Sattar Hajee Abdoula has been nominated as administrator under Section 215 of the Insolvency Act 2009 by the board of directors of the concerned companies, namely Seaton Investment Ltd, British American Investment and Iframac.
As an independent professional, the administrator’s objective will be to ensure smooth operations at each company, to preserve the company’s values and to act in the interests of clients and employees.
Sattar Hajee Abdoula has 35 years of experience in recovery, management and liquidation of companies in trouble and is expected to ensure that rights of company stakeholders under his administration – particularly clients and employees – are not unduly suppressed.
- By Wazna Gunga