If no wrongdoing is found, the management stands exonerated," Prashant Jhawar told ET. Natcom was a shell entity used by Rajeev Jhawar to funnel money to buy an expensive home in a posh Singapore locality, according to them. Natcom was awarded contracts at inflated rates, had no other clients and was unknown in Singapore's shipping industry, according to the NCLT complaint. They were also on the board of the company till August last year. "There are differences between us but I am open to a resolution," said Rajeev Jhawar.Prashant Jhawar said his cousin was evading questions over governance at the company.

Source: Economic Times February 02, 2018 17:48 UTC