The Ahmedabad Crime Branch brought Sunil Kakkad, the chairman and managing director of IT firm Sai Infosystem (Pvt) Ltd, who was on the run after duping his employees and several banks and government-run companies of an estimated Rs 1,000 crore, from Liberia in Western Africa to Ahmedabad early on Monday.
Kakkad was arrested at the Liberia airport last week after an Interpol notice was issued against him.
When the Gujarat Police learnt about his arrest, they contacted the Liberian government. Liberian President Ellen Johnson-Sirleaf ordered the Liberian Police to help Gujarat Police take custody of Kakkad.
The CID (Crime) team of the state police got information from Liberia that Kakkad tried to board a flight on June 28 and was arrested by the airport authorities and Liberia police. Accordingly, CID had set up a team of crime branch officers to go to Liberia to take Kakkad’s custody.
Kakkad was brought through Qatar Airways, where he allegedly tried to resist the crime branch officials. On June 5 night, when the aircraft halted at Casablanca airport at Morocco, Kakkad started screaming and shouting, forcing airport authorities to intervene and ask crime branch officials to de-board with Kakkad. However, Kakkad and the crime branch officials were allowed to go only after DCP Himanshu Shukla requested the Qatar Airways authorities to let them go.
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Speaking to the media, Zone-I DCP Virendra Yadav said, “Kakkad was hiding in Monrovia of Liberia for the past one year. He fled to Dubai from Ahmedabad and later to Liberia, where he has a friend. He opened a company there in the name of Enrich Gold Resources Corporation, which was doing well. However, he was intercepted by Liberian Police after Interpol issued the notice.
Sunil Kakkad was “missing” from June 18, 2013, along with his family after duping 1,400 employees, including 700 from Ahmedabad, without paying them salaries for nine months and other arrears. These employees were platinum-holders at the Vibrant Gujarat Summit.
Two senior employees of SIS, then Associate Vice-President Amit Mathur and then Senior Vice-President Sangeet Nigam had given written complaints to the Ahemdabad Crime Branch, charging Kakkad and his brother Sameer Kakkad, Prem Behl then director and Bageshree Bhupen Savani, then PA to the CMD of the crime. Later, a Haryana-based dealer to SIS registered a complaint of cheating to tune of Rs 1.10 crore when the company failed to pay the dues.
According to police, Kakkad had taken loans worth Rs 794.32 crore from SBI, State Bank of Bikaner and Jaipur, IDBI, Bank of Baroda, Corporation Bank and Allahabad Bank for the flagship company, Rs 97 crore for Attrium Corporation and Rs 144 crore for Click Trekkon. The SBI had also given public notices in the newspapers stating that the bank has lent a total of Rs. 1000-1200 crore to the SIS.
The police said that before fleeing the country, Kakkad siphoned off Rs 40 crore to his other private companies. As per the complainants, he transferred around Rs 27.83 crore from the Sai Info account with State Bank of India, Ahmedabad, to his various group companies, Tanya, Swan, Power Info, Cameo and Blue Eye.
Similarly, he had transferred Rs 10 crore from another of his group company, Click Telecom Pvt Ltd to a third group company Power Info and Rs 2 crore from the account of his other company ,Atrium InfoComm Pvt Ltd, to Power Info-Control & Services Pvt Ltd.
The police further said that the complainants had informed that Kakkad set up SIS Global (USA), INC in Oak Brook, Illinois, SIS Global (FZE) in UAE and Kompac Technologies Ltd in Hong Kong.
Kakkad had allegedly invested Rs 11.33 crore to purchase equity instruments, government securities and in mutual funds. He had also bought shares worth Rs 7.50 crore in Atrium Infocomm Pvt Ltd, Rs 1.41 crore in SIS Global (FZE), UAE and Rs 4.46 lakh in SIS Global (USA) Inc.
The complainants had told police that Kakkad had given fabricated balance sheets for the past two years to reflect huge profits and cheat employees, bankers and government-owned companies.
Kakkad, an electronics and communications engineer, had set up the company in 1992 that grew to be the biggest ICT solutions providers. SIS in a tie-up with BSNL had started the video calling facility. The company was said to be at the peak of its revenue generation in 2010-11 with Rs 1500 crore, but started facing the crunch in August 2012.
Kakkad and the crime branch officials ACP B C Solanki, Bhagirath Jadeja and Inspector P M Sarvaiyya would be put through blood tests for two viruses, namely Yellow fever and Ebola, that have currently gripped the country.