Singapore court strips control of Radiant World from founder
The decision removes Radiant World founder Pinkesh Nahar's control over the group's key operating entity.
A Singapore court has stripped the founder of Radiant World, Pinkesh Nahar, of control over the company, appointing KPMG restructuring executives to manage the group's key operating entity. The decision comes after creditor Mizuho Bank accused Nahar of fraud linked to iron ore receivables. The court's move opens a new chapter in the saga that has raised concerns about falsified documents used to raise funds from banks in the global commodities industry.
KPMG executives Toh Ai Ling, Adrian Chan, and Tan Yen Chiaw will serve as interim judicial managers of Radiant World Corporation, according to sources familiar with the court's decision.
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- Singapore court appoints KPMG to manage trader Radiant World straitstimes.com
- Singapore Court Strips Control of Radiant World From Founder insurancejournal.com
- Singapore Court Appoints KPMG to Manage Trader Radiant World bloomberg.com
