Dilip Rahulan, the Indian-born founder of technology firm Pacific Controls, has been jailed for three years in absentia, according to Dubai court documents.
Papers from Dubai Public Prosecution, seen by SATPRNEWS, state that Rahulan was sentenced to three years in prison on 27 December 2016 for “issuing in bad faith a dud cheque”.
The case was brought by Indian national Shah Tejashkumar Vinodchandra, who alleged that Rahulan signed two cheques totalling AED21,852,500 ($5.9 million) that were later returned due to insufficient funds, according to the court documents.
The case was made against Rahulan personally as well against Pacific Controls
Rahulan’s whereabouts are unknown to the public prosecutor and he was jailed ‘in absentia’ at Dubai’s First Instance Court.
The Dubai government has issued an international arrest warrant via Interpol calling for Rahulan to be returned to Dubai to serve his sentence.
The warrant states that Rahulan was born in Cochin, India, but has an Australian passport, and it lists among his personal details an address and telephone number in New Jersey, US.
Efforts were made to contact Rahulan via this channel but no response had been received at the time of publication.
Mr Tejas Shah said in an emailed statement to SATPRNEWS this week that Dilip had preplanned the fraud
Dilip made some overseas investments in 2014& 15
Took as much money he can from every source and flee the country
Pcs invested 20 Million dollars in WSO@ to buy 33pct equity and similar amount in INFRAMON plus bought a lavish std farm in UK which are in public domain but for sure lot of money is hidden
Dilip used to be honourable man that is why Dubai embraced HIM
Dubai gave him everything-name/respect/money but Dilip disowned everything and cheated everyone who trusted him and run away swindling Big money
People like Dilip are disgrace to society
The world is now smaller place and very well interconnected
Dilip will not be able to live in peace anywhere in the world
Sooner or later he will be caught and brought to justice
Mr shah thinks that if WSO2 & INFRAMON wish to continue operating in business they will have to throw Dilip out of board and ask him to liquidate his shares and find alternative strategic partners
WSO2 appear good company but with Dilip on board-looks UGLY
Dilip will not be able live with honour anywhere in the world
Dilip used to be on Forbes list at no 28-How he qualified is a question mark
PVCs borrowed from 23 banks-how they cheated so many institutes for so many years?
It is quite possible that PCS never made enough money
Maybe PCS was making books to borrow
Maybe after raising one billion in 2015 –He decided to withdraw everything he can and flee the country
The total default is over 1.4 billion against the asset on ground about 8/900 million
Atlas 600 million is missing
This kind of money is not lost for sure
Dilip is hiding money somewhere
Dilip will meet his fate and that is JAIL