PAS: Deepak's loans total RM215mil

Carpet trader Deepak Jaikishan’s loan with Bank Rakyat is not limited to a purported RM32 million loan that recently became a subject of controversy, but instead he has two more loans totalling RM215 million.

PAS information chief Mahfuz Omar claimed today that Deepak has failed to settle all three of the loans in question, leading to a settlement agreement with the bank.

“This raises even more questions about the special treatment that the bank has given to Deepak as the outstanding amount is even bigger at RM215 million,” Mahfuz said, basing it on his own research.

Mahfuz (right) was speaking to reporters after handing over a memorandum demanding answers and transparency from Bank Rakyat over the Deepak loans at the bank’s headquarters in Kuala Lumpur today.

Mahfuz pointed out while the RM32 million outstanding loan was under the name of Deepak-owned Carpet Tile Sdn Bhd, another RM198 million was given to Radiant Splendour Sdn Bhd, a property developer company linked to Deepak, and another RM40 million was personally given to Deepak.

The outstanding amount from the three loans have been restructured by the bank for an amount of RM215 million, Mahfuz said.

[More to follow]