Ruling Expected on Bail Application for Accused Ex-Chairperson of Salima Sugar Company
Published on July 3, 2023 at 1:52 PM by Edgar Naitha
Lilongwe Chief Resident Magistrate Madalitso Chimwaza is set to make a final ruling on the bail application for former Salima Sugar Company chairperson, Shrieesh Betgiri, this afternoon.
Earlier, bail was granted to the accused with conditions including a cash payment of 100 million kwacha, two sureties with 25 million kwacha each, non-cash, and attachment of 51% of the company’s shares.
However, the defense lawyer requested a variation in the conditions, citing financial constraints. The ruling on the defense request is expected at 3 pm.
Betgiri is accused of unlawfully obtaining a loan of USD 300 million in the name of Salima Sugar Company from Dubai.
