Rajiv Servansingh, ex-CEO of State Trading Corporation (STC), was heard again at the headquarters of the Financial Crimes Commission (FCC). Rejecting any irregularity in the award of the Rs 30 billion oil contract to Mercantile & Maritime Group (MMG), he asserted that he had merely carried out the decisions of STC's Board of Directors. The FCC has been scrutinizing potential links between the former STC boss and MMG director Kareena Neisius, to determine precisely what role he might have played in the awarding of this colossal contract. For his part, Rajiv Servansingh maintains that he has nothing to reproach himself for.
At that time in Sept 2023 , Rajiv Servansingh was affirming that “De toute façon, il y a une clause du contrat qui stipule que les produits pétroliers destinés à Maurice ne doivent pas provenir d'un pays sous un embargo ou une sanction internationale”.
We had been querying whether due diligence was carried out by the STC on the Mercantile & Maritime Group !!!
“What kind of due diligence have they carried out ? This reminds us of the Sobrinho saga !"
An article in FT had alerted us that “Vitol and Gunvor, two of the world’s largest independent energy traders, remain significant buyers of refined oil from Russia more than a year after both companies pledged to drastically reduce their business with Moscow following President Vladimir Putin’s full-scale invasion of Ukraine. Analysis of export records filed with Russian customs in the first four months of 2023 show that both companies were among the top-10 buyers of refined products, such as petrol and diesel.”
Amur Trading SA (among the ten top traders of Russian oil), a Swiss-registered company, is jointly controlled by Vitol and the Singapore-based Mercantile & Maritime Group. Mercantile & Maritime Group (MMG), is also suspected of distributing petroleum products from other countries (Venezuela) sanctioned by embargoes.”
We had also added that…“anyone who thinks that a normal company would trade oil in local Mauritian currency must be nuts.”
What would Mr Rajiv Servansingh a former favourite columnist of Mauritius Times known for constantly moralising and criticising everything about the then Labour Govt - have commented in the present circumstances ?
Perhaps along these lines, “Rajiv Servansingh cannot be allowed to walk away freely. He lacks character, this guy. Does he imply he was a mere puppet in the hands of the Board? If so, it is imperative that the Board members be also arrested and held responsible for their actions. The STC has suffered enough under their stewardship, and it is time for them to face the consequences of their actions.
