Mauritius

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SB Global Ltd.: License Suspension

September 20, 2022
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License and Collective Investment Scheme License of fund manager SB Global Ltd.

Asset Capital Growth Fund Ltd.: License Suspension

September 20, 2022
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of Asset Capital Growth Fund Ltd. and its Authorization to operate as a Collective Investment Fund and CIS Expert Fund.

Carson Gilbert v. Azure Power Global Ltd. et al: Class Action Complaint

August 30, 2022
Class Action Complaint alleging fraud in Carson D. Gilbert v. Azure Power Global Limited, described as a Mauritius-domiciled, India-based company that "sells renewable power in India on long-term fixed price contracts"; Ranjit Gupta, Alan Rosling, Harsh Shah, and Pawan Kumar Agrawal at the U.S. District Court for the Southern District of New York.

Financial Conduct Authority v. Argento Wealth Ltd. et al: Complaint

June 16, 2022
Particulars of Claim regarding the alleged promotion of shares in Cayman Islands-domiciled EMB Fund Limited and an alleged "Loan Scheme" in the Financial Conduct Authority v. Argento Wealth Limited, of London, England, and Daniel Willis, of Fareham, Hampshire, England, at the High Court of Justice of England and Wales.

AIP Global Ltd.: License Revocation

May 12, 2022
Public Notice by the Mauritius Financial Services Commission that it has revoked the "Authorised Company" authorization of AIP Global Ltd.

Emerging India Fund Management Ltd.: License Revocation

May 12, 2022
Public Notice by the Mauritius Financial Services Commission that it has "revoked the Global Business Licence and Collective Investment Scheme Manager Licence of Emerging India Fund Management Ltd." for regulatory breaches.
Drio Item, Julius Capital Bank

Swiss lawyer Dario Item lied to obtain Antigua banking license, judgment shows

March 24, 2022
Madrid-based Swiss lawyer Dario Item, 49, who serves as Antigua and Barbuda's Ambassador to Spain, Liechtenstein, and Monaco, lied to Antigua's financial regulator when successfully applying for a bank license in 2018, apparently to conceal an investigation in Labuan that led to his corporate disqualification and the closure of his bank there the following year, OffshoreAlert can reveal.

Zouzar Bouka et al v. Symbion Power Services U.S. Inc. et al: Discovery Application (France & Madagascar)

March 24, 2022
Application by Zouzar Bouka, described as a citizen of France and an "entrepreneur and investor"; Vision Indian Ocean SA, of Madagascar, and ViMa Real Estate Sarl, of Madagascar, to take discovery from Symbion Power Services U.S. Inc., Symbion Power LLC, Symbion Power Holdings LLC, Symbion Power Africa LLC, Symbion Energy Holdings Ltd., and Paul Hinks for use in a "contemplated proceeding in France" and a "criminal proceeding in Madagascar" regarding "Respondents' participation in a multi-million-dollar theft from the Mandroseza Power Plant, a project designed to bring reliable electricity to Madagascar, and their subsequent sale of interests in the Plant contrary to their contractual obligations and Malagasy law", filed at the U. S. District Court for the Southern District of New York.

Nebahat Evyap İşbilen v. Standard Chartered Bank et al: Discovery Application (‘£40M Fraud’)

February 22, 2022
Application by Nebahat Evyap İşbilen, described as a 76-year-old "Turkish national resident in the United Kingdom", to take discovery from Standard Chartered Bank, Citigroup Inc. d.b.a. Citibank; Bank of New York Mellon Corporation, JP Morgan Chase Bank N.A., Goldman Sachs and Co., Bank of America N.A., Deutsche Bank A.G., Deutsche Bank Trust Company Americas, HSBC Bank, Société Générale, and M&T Bank Corporation for use in legal proceedings in England against entities in the British Virgin Islands, Cayman Islands, England, Jersey, in the Channel Islands, and United Arab Emirates regarding "a multinational fraud committed against her by Mr. Selman Turk", filed at the U. S. District Court for the Southern District of New York.

Amaplat Mauritius Ltd. et al v. Zimbabwe Mining Development Corporation et al: Complaint

January 10, 2022
Complaint "to recognize and enforce the judgment of the High Court of Zambia ... in favor of Plaintiffs and against Defendants Zimbabwe Mining Development Corporation and the Chief Mining Commissioner, Ministry of Mines of Zimbabwe" in Amaplat Mauritius Ltd. and Amari Nickel Holdings Zimbabwe Ltd., both of Mauritius v. Zimbabwe Mining Development Corporation, The Chief Mining Commissioner, Ministry of Mines of Zimbabwe, and the Republic of Zimbabwe at the U. S. District Court for the District of Columbia.

Abdulhameed Dhia Jafar v. Abraaj Holdings et al: Judgment (Complaint Amendment)

December 20, 2021
Judgment regarding Plaintiff's application for leave to amend his Statement of Claim regarding an alleged $267 million fraud in Abdulhameed Dhia Jafar, of Sharjah, in the United Arab Emirates v. ABRAAJ Holdings (in Official Liquidation), GHF General Partner Limited, as General Partner of GHF Fund LP, formerly Abraaj Growth Markets Health Fund LP, and GHF Fund (B) LP, formerly Abraaj Growth Markets Health Fund (B) LP; The GHF Group Limited, formerly The Abraaj Healthcare Group Limited, and Abraaj General Partner VIII Limited, as General Partner of Neoma Private Equity Fund IV LP, formerly Abraaj Private Equity Fund IV LP, all of the Cayman Islands, at the Grand Court of the Cayman Islands.

SEC v. Jay Lee et al: Complaint

December 9, 2021
Complaint alleging "a sophisticated, multiyear, stock manipulation scheme" that "primarily utilized the illicit services of an offshore platform headed by Canadian Frederick L. Sharp" and involved entities in several jurisdictions, including the Bahamas, Fiji, Panama, and Saints Kitts and Nevis. in U. S. Securities and Exchange Commission v. Jay Scott Kirk Lee, Geoffrey Allen Wall, and Benjamin Thompson Kirk, all described as Canadian citizens residing in British Columbia, Canada, at the U. S. District Court for the Southern District of Massachusetts.

Solon Director (Malta) Ltd.: €2.5K Fine

December 3, 2021
Public Notice by the Malta Financial Services Authority that it has imposed a fine of €2,500 on Solon Director (Malta) Limited for a regulatory breach.

Rosebery Management LLP: License Revocation

November 29, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked the 'Global Business License' of Rosebery Management LLP "in order to protect the good repute of Mauritius as a centre for financial services".

JP Markets (Mauritius) Ltd.: License Revocation

September 21, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked the license of JP Markets (Mauritius) Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Mauritius Corporate and Business Registration Department showed that JP Markets (Mauritius) Ltd. was incorporated on February 6th, 2020, that its directors are Justin George Paulsen and Kurt Anton Paulsen, and that it is managed by Toukan Corporate Services Limited. On the group's website at www.jpmarkets.co.za, it is claimed that "JP Markets is a global Forex powerhouse". The site is operated by South African firm JP Markets SA, which, according to records kept by the South African Companies and Intellectual Property Commission, was incorporated in South Africa on March 29th, 2016, went into in liquidation in 2020, and whose only current director is Justin Paulsen, 34, while Kurt Paulsen, 41, is a former director, both of whom are citizens of South Africa.

CYBERservices ASIA: License Revocation

August 4, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked the Payment Intermediary Services Licence of CYBERservices ASIA for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that CYBERservices ASIA was incorporated in Mauritius on June 7th, 2012 and its directors are Ritesh Kumar Bissessur and Jacques Wensley Caroopen.

Taysun Corporate Services Ltd.: License Revocation

July 29, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked "the Management License and the Approval to act as Captive Insurance Agent" of Taysun Corporate Services Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Mauritius Corporate and Business Registration Department showed that Taysun Corporate Services Ltd. was incorporated in Mauritius on February 11th, 2010, its sole director is Sundara Rajen Sooben and its sole shareholder is Álvaro de Oliveira Madaleno Sobrinho, of Angola.

BAO Asset Managers Ltd.: Directors

July 6, 2021
Company Details for BAO Asset Managers Ltd., obtained from the Mauritius Corporate and Business Registration Department on July 6th, 2021.

BAO Asset Managers Ltd.: $19K Fine

July 5, 2021
Public Notice by the Mauritius Financial Services Commission that it has imposed a fine of US$19,571 on BAO Asset Managers Ltd. for breaches of "numerous statutory obligations". Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that BAO Asset Management Ltd. was incorporated in Mauritius on December 15th, 2010, its directors are Shailendr Ramsagur, Achsah Conhyea, and Michael Cargill Southam, and its manager is Rockmills Financials Ltd.

Rosebery Management LLP: License Suspension

July 2, 2021
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of Rosebery Management LLP. Editor's Note: A search by OffshoreAlert of the online database maintained by the Mauritius Corporate and Business Registration Department produced no hits for any legal entity with the word 'rosebery' in its name and no entity with that word in its name appears on the "Register of Licensees" on the website of the Mauritius FSC.

CC/Devas (Mauritius) Ltd. et al v. Air India Ltd.: Complaint

June 28, 2021
Complaint "to resolve questions of actual controversy involving the relationship between India's wholly owned national airline, Air India, and India, and in particular, for a determination that Air India is the alter ego of India" in CC/Devas (Mauritius) Ltd., Devas Employees Mauritius Private Limited, and Telecom Devas Mauritius Limited v. Air India Ltd. at the U. S. District Court for the Southern District of New York.

James Barbee v. Amira Nature Foods Ltd. et al: Complaint

June 24, 2021
Complaint alleging securities fraud in James K. Barbee v. Amira Nature Foods Ltd., described as a seller of "Basmati Indian specialty rice" that is domiciled in the British Virgin Islands and based in Dubai, United Arab Emirates; Karan A. Channa, described as a resident of Dubai, UAE; Bruce C. Wacha, described as a resident of Norwalk, Connecticut; Varun Sethi, described as a resident of Dubai, UAE, and Brian M. Speck, described as a resident of Somerville, New Jersey, at the U. S. District Court for the District of New Jersey.

Thomas Doctoroff v. Crown Global Life Insurance Ltd. et al: Ruling

June 7, 2021
Ruling denying summary judgment against Crown Global Life Insurance and granting summary judgment for $1.7 million against the other defendants regarding investments in the Mauritius-based Belvedere Management Group in Thomas Doctoroff, of New York, USA v. Crown Global Life Insurance Ltd., of Bermuda; Paul Gambles, of Thailand; MBMG Investment Advisory Company Ltd., of Thailand; MBMG Group Singapore Pte, of Singapore; MBMG International Custodians Ltd., of the British Virgin Islands; MBMG Asset Management Limited, of Mauritius, and Garmor Asset Management Ltd., of Mauritius, at Bermuda Supreme Court.

Neoma Manager (Mauritius) Ltd. v. Abraaj ABOF IV Ltd. et al: Writ of Summons

June 2, 2021
Writ of Summons in Neoma Manager (Mauritius) Ltd., as manager of Neoma Private Equity Fund IV L.P v. Abraaj ABOF IV Limited, Mark Longbottom and Geoffrey Varga, as Trustees of the creditors or members of ABOF IV Fund Investor Limited (Dissolved); Columbus Ventures Limited, acting by its Joint Receivers, Mark Shaw, Sarah Rayment, and Russell Smith; Mena Finance Holdings, Mena Vehicle Limited, acting by its Joint Receivers, Mark Shaw, Sarah Rayment, and Russell Smith; Perfect Holding Limited, Sahara Ventures Limited, Sea Shell Investments Limited, and Abraaj General Partner VIII Limited, as General Partner of Neoma Private Equity Fund IV L.P. at the Grand Court of the Cayman Islands.

Exential Investments Inc.: Chapter 15 Petition

May 27, 2021
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Russell Crumpler and David Standish, as the Foreign Representatives of Exential Investments Inc., which is part of the Dubai-based Exential Group that allegedly perpetrated a fraud in which "investors lost investments in the range of at least $250 - $500 million", filed at the U. S. Bankruptcy Court for the Southern District of Florida.

Ecoprivate Business Ltd. et al v. KSL Capital Partners: Discovery Application (Switzerland)

March 18, 2021
Application by Ecoprivate Business Ltd., of the British Virgin Islands, and Jean Sebastian Ferrer Funke, a citizen and resident of Switzerland, to take discovery from KSL Capital Partners for use in "(1) a contemplated criminal proceeding in Switzerland, which Applicants anticipate will be brought against Mr. Sonashah Shivdasani; and (2) an arbitration proceeding commenced by Ecoprivate against Bluebay Resorts (BVI) Limited" alleging fraud and "criminal mismanagement" involving "a complex web of associated individuals and corporate entities in offshore jurisdictions such as Thailand and the British Virgin Islands", filed at the U. S. District Court for the District of Colorado.

Black River Trust Company Ltd.: Liquidation

March 4, 2021
Public Notice by the Mauritius Financial Services Commission that "the Official Receiver, Mr. Vasoodayven Virasami, has been appointed as the liquidator of Black River Trust Company Ltd.". Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that Black River Trust Company Ltd. was incorporated in Mauritius on October 10th, 2005 and its directors are Michael Robert Charlton, David Perry Gaskell, and Luc Allan Penny Hack.

Worldwide Wealth Management PCC: License Suspension

February 26, 2021
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of Worldwide Wealth Management PCC. Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that Worldwide Wealth Management PCC was incorporated on December 26th, 2014, its directors are Yann Aldric Marie Robbiola and Jonathann Richard Marcel Savigny, and its management company is IQ EQ Corporate Services (Mauritius) Ltd.

East Asian Consortium BV v. Bank of America et al: Discovery Application

February 2, 2021
Application by East Asian Consortium B.V., of the Netherlands, to take discovery from the New York branches of Bank of America, N.A., Bank of New York Mellon, BNP Paribas USA, China Construction Bank, Citibank N.A., HSBC Bank USA, N.A., JPMorgan Chase Bank, N.A., MashreqBank PSC, Standard Chartered Bank, and Wells Fargo Bank, N.A. for use in legal proceedings in South Africa "against MTN Group Ltd., MTN International (Mauritius) Ltd., Mobile Telephone Networks Holding (Pty) Limited, MTN International (Pty) Ltd., Phutuma Freedom Nhleko, and Irene Charnley", filed at the U. S. District Court for the Southern District of New York.

Capricorn Finance: License Revocation

January 18, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked the "Investment Adviser (Restricted) Licence" of Capricorn Finance for regulatory breaches,

Xavier Rault: Disqualification

January 18, 2021
Public Notice by the Mauritius Financial Services Commission that it has disqualified Xavier Rault for regulatory breaches.

Neoma Manager (Mauritius) Ltd. v. Neoma Global Growth Markets Fund (B) LP et al: Writ of Summons

January 5, 2021
Writ of Summons in Neoma Manager (Mauritius) Limited, as the Manager of Neoma Private Equity Fund IV LP v. Neoma Global Growth Markets Fund (B) LP, Bicorp S.A.L., of Lebanon; Crown Global Secondaries III Plc, of Ireland; Falcon Flight LLC, of New York, NY; Raghida Ghandour, of Dubai, and The Public Institution for Social Security, of Kuwait, at the Grand Court of the Cayman Islands.