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Ruling Expected on Bail Application for Accused Ex-Chairperson of Salima Sugar Company

Edgar Naitha
Edgar Naitha

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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.

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