Article by Darshana Jamindar
Finally, hide and sick of between,Sunil Kakkad,Managing Director,SiS and Police is over with arrest of him by Gujarat Police.
Gujarat Home Ministry and Police Department has done remarkable job by bringing Rs 940 crore defaulter of a reputed Computer firm,Sai InfoSystem (SIS), back to Ahmedabad.
Kakkad has alledgely dafaulted by making borrowings from government and private banks. Investing money defaulted by withholding staff salaries of 1400 employees for 9 months and diversified investments out of loan borrowings into stocks and illegally transferring money to foreign.
Two complaints against Kakkad has been lodged in Vastrapur Police station of Ahmedabad. In 2013, after defaulting in a scam of Rs 940 crore had fleed to Liberia in Africa.Lookout notice was issued against Kakkad. Scam amount could go upto Rs 1100 to 1200 crores as investigation proceeds further.
With pro-active role of Gujarat Home Ministry and quick approval for brining back of hardcore defaulter was possible. Help of InterPol was sought against arrest of Kakkad from foreign land.
Arrest of Kakkad has set two new records that for the first time Gujarat Police went out of India in arresting a big defaulter and despite of No Extradition Treaty with Liberia, Gujarat Police was successful in bringing him back to Ahmedabad.
Kakkad had illegally transferred money to foreign and started his business there, with help of local people by making them partner in their firm. He had a plan to settle down in Africa.
Kakkad played final trick of escape when Crime Branch Officers were brining him in a flight. He started shouting and screaming in the flight, on hearing them Kakkad along with officers were forced to deplan. Only on request from DCP,Himashu Shukla, authorities were convinced to allow them on board. He was brought from Liberia to Ahmedabad via Doha.
