AN RM52.6 million suit filed by carpet merchant Deepak Jaikishan against former prime minister Najib Razak over a soured property deal involving 80 condominium units will be heard at the Kuala Lumpur High Court’s civil division.

Justice Nantha Balan E.S. Moorthy agreed to transfer the case from the commercial crime division after a hearing in chambers this morning.

Deepak also withdrew his application to transfer and consolidate this suit with another suit against Bank Rakyat at a muamalat court, said his lawyer, Irzan Iswatt.

Nantha Balan agreed to strike out Deepak’s application after the latter’s withdrawal.

No date has been set for the trial yet, Irzan told The Malaysian Insight. 

Deepak’s younger brother, Rajesh Jaikishian, and their company, Radiant Splendour Sdn Bhd, are suing Najib and his wife, Rosmah Mansor, for torts of conspiracy, fraud and abuse of process, and are seeking RM52.6 million in damages.

The plaintiffs said they were forced to take out a RM198 million loan from Bank Rakyat on behalf of the Pekan MP and his wife in 2008 and claimed that they had to use their ownership of a master title for 80 condominium units in Kuala Lumpur as the deed of assignment.

Problems arose in 2013 when the brothers were forced to enter into a settlement agreement with Bank Rakyat following their failure to service the loan.

Deepak, his brother and their company also named Najib’s brother, Ahmad Johari Abdul Razak, former Tabung Haji chairman Abdul Azeez Abdul Rahim and former Bank Rakyat chairman Shukry Mohd Salleh as defendants in the suit, which was filed on September 12.

The plaintiffs said the loan default resulted in the appointment of Johari and his firm to sell the units at a loss in 2014.

Dhinesh Bhaskaran and Serena Azizudin mentioned on behalf of Najib, Rosmah and Johari today. Prem Ramachandran appeared for Azeez and Jagjit Kaur for Sukry. – November 28, 2018.