A former telecommunications company director has been charged at the Kuala Lumpur Sessions Court with allegedly offering an RM8 million bribe to secure approval for a RM400 million loan.
Ranjeet Singh Sidhu, 56, pleaded not guilty after the charge was read before Judge Rosli Ahmad, according to the New Straits Times.
He was charged under Section 16(b)(A) of the Malaysian Anti-Corruption Commission (MACC) Act 2009 for allegedly giving a bribe as an inducement or reward in relation to his principal’s affairs. The offence was said to have taken place at Maybank’s Dataran Maybank branch on Jalan Maarof, Bangsar, Kuala Lumpur, on July 2, 2012.
The prosecution alleged that the RM8 million was channelled through Noorusa’adah Othman to Zafer Hashim, then president and group managing director of Bank Pembangunan Malaysia Bhd (BPMB), as an inducement to approve a RM400 million loan for V Telecoms Bhd.
The loan was reportedly intended to fund the development of a coastal fibre optic network around Peninsular Malaysia.
Ranjeet also faces a separate charge for allegedly using a forged document — a joint completion guarantee between V Telecoms and Huawei Technologies Bhd dated June 21, 2012 — to meet the loan’s approval requirements.
He was accused of submitting the forged document at BPMB’s office on Jalan Sultan Ismail, Kuala Lumpur, on Jan 29, 2012. The charge was framed under Section 471 of the Penal Code for knowingly using a forged document.
Ranjeet pleaded not guilty to both charges.
The court granted bail at RM150,000 with one surety and set March 30 for case mention. He was also ordered to surrender his passport and report to the MACC headquarters once a month until the case is concluded.
Deputy public prosecutor Farah Ezlin Yusop Khan appeared for the prosecution, while Ranjeet was represented by lawyer Gobinath Mohanna.
