Indian citizen charged with CBT involving over RM140,000 in company funds

New Straits Times

05-05-2025

KUALA LUMPUR: A man from India pleaded not guilty in the Sessions Court here today to charges of criminal breach of trust involving more than RM140,000 in his company's funds four years ago.
Rajinder Singh, 57, was charged as the director of Vantage Trading Partners, with committing CBT of the company's funds amounting to RM141,486.12.
The offence was allegedly committed at the company at Ilham Tower, Jalan Binjai here, on Oct 13 and Nov 26, 2021.
He was charged under Section 409 of the Penal Code, which provides for a prison sentence of not less than two years and a maximum of 20 years, whipping and a fine upon conviction.
The man also pleaded not guilty to an alternative charge of using the funds without the consent or ratification of a general meeting at the same location and date.
The charge, under Section 218(1)(a) of the Companies Act, provides imprisonment for up to five years or a fine of up to RM3 million or both upon conviction.
Judge Zulqarnain Hassan did not allow the accused bail and set June 5 for mention.
"The principle of bail is to ensure the accused appears in court. The accused and his wife are foreign citizens, and this country is not their homeland. Therefore, bail is not allowed," he said.
Earlier, deputy public prosecutor Mohamad Ikhwan Mohd Nasir did not offer bail, but said that if the court exercises its discretion to grant bail, he requested the bail amount at RM70,000 with two Malaysian guarantors.
Lawyer Daniel Annamalai, representing Rajinder, requested that his client be allowed bail on the grounds that he has a wife, who is British, and two teenaged children to support.
"The accused is not at risk of fleeing because he has lived in this country for seven years and has businesses in Malaysia, India, Bangladesh and Indonesia in addition to being a 'trader' for the governments of the four countries," he said.