Thread by @Kenyan_Dawn

Bank of Baroda insider dealings, a worrying trend:

Despite being profitable, the Kenyan branch is facing liquidity issues and the country director, A Saravanakumar has resorted to unethical ways to shore up the banks dwindling balance sheet. THREAD

The arrogant foul mouth managing director has formed a criminal enterprise and roped in fellow directors Ravi Kant Pathak and Rameshchandra Chunilal Mehta to engage a looting spree from customers who have taken loans from the bank.

The axis of evil, known within the banking circles as the Three Maharaja Musketeers brag they are untouchable as they have the direct blessings of the banks Chairman Dr. Hasmukh Adhia and Shri Sanjiv Chadha, Managing Director & CEO.

“We were told to use any means necessary to ensure the Kenyans branch won’t collapses, and Dr Adhia himself gave us the blank cheque to do whatever is necessary. Anyone with a problem should call Sanjic Chadha or the chairman himself,” bragged the Saravanakumar

A. Saravanakumar & directors Ravi Kant Pathak & Rameshchandra Chunilal Mehta have also incorporated officials of the Kenyan judiciary into their criminal network so that when the bank is sued by frustrated clients, the magistrates & judges will always rule in favour of the bank.

So brave are the trio that they openly meet judges and magistrates in the banks head office openly during the day. In mid December judge Alfred Mabeya spent three hours in the afternoon at the bank’s headquarters where he met with the three directors.

According to sources within the bank, by the time the meeting ended, an officer of the bank was sent to the strong room where Kenyan shillings 7.7 million in US currency was taken to the MD’S office, and thereafter, Judge Mabeya exited the premises with a heavy package.

The interesting twist is that a week later, Mabeya was hearing a case pitting a disgruntled client against the bank. On 23 December, Mabeya called for a hearing and only allocated five minutes for the disgruntled clients lawyer to put in submissions.

The lawyer argues that the bank had filed in submission based on fake documents, and even provided a police statement where a lawyer, under OB 44/16/2021 FILED AT Central Police claimed his commissioner of oaths stamp was faked by the bank since he had never represented the bank.

Mabeya, fueled by the package he had received at the banks head office, ignored the glaring crime, since filing fake documents in court is a crime, but went ahead and asked the bank to file fresh submission, and he ignored the fake ones.

He gave notice that he will rule on the case on 4 January. Shock of the litigants as on 29th December, Mabea sent an email from a holiday resort in Mombasa where his stay with his family was facilitated by the bank, that he is issuing a ruling within ten minutes on the same day.

Mabeya ruled in favour of the bank, and instructed administrators to take over the business.

A source at the bank says a junior employee was the one sent to pay for Mabea’s holiday at the coast and the three directors pushed the judge to issue a ruling while the judge was sipping pinacoladas by the beach..

because they wanted their year to end on a high note, so that they can report back to India that they had managed to take over property worth billions to shore up the banks dwindling cash base.

According to Central Bank of Kenya, commercial banks, mortgage finance company and microfinance banks are required to always observe the daily CRR requirement of 3 percent and monthly average CRR of 4.25 percent.

But Bank of Baroda, in a clearly indication of imminent collapse, is struggling to maintain a daily cash reserve of 3 percent and their reserve is now at 0.3 percent.

This means, if someone withdraws Sh 100 million from the bank, no other customer will be able to withdraw anything from the collapsing bank.

It’s not the 1st time Mabeya is being accused of unethical conduct. Time back, JSC investigated Justice Mabeya after Pastor Patrick Wafula, filed allegations against the judge, claiming that the judge was influenced by some court officials and received bribes to dismiss his case.

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