Vijay Construction in financial limbo
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Vijay Construction in financial limbo
Vijay Construction in financial limbo | 23 July 2020
By Christophe Zialor
After 49 years in business, Vijay Construction is ceasing operations following the freezing of their assets.
The downfall of the construction company comes weeks after a Supreme Court ruling made by Judge Ellen Carolus where she ordered Vijay Construction to pay Eastern European Engineering Limited (EEEL) over €20.2 million (approximately R425 million) for breaking the terms of a contract it signed for the development of the Savoy Hotel in 2011.
In a telephone interview yesterday with the managing director of the company, Vijay Patel, he informed Seychelles NATION that due to their accounts being frozen, construction of all their major projects have come to a halt.
http://www.nation.sc/articles/5493/vijay-construction-in-financial-limbo
By Christophe Zialor
After 49 years in business, Vijay Construction is ceasing operations following the freezing of their assets.
The downfall of the construction company comes weeks after a Supreme Court ruling made by Judge Ellen Carolus where she ordered Vijay Construction to pay Eastern European Engineering Limited (EEEL) over €20.2 million (approximately R425 million) for breaking the terms of a contract it signed for the development of the Savoy Hotel in 2011.
In a telephone interview yesterday with the managing director of the company, Vijay Patel, he informed Seychelles NATION that due to their accounts being frozen, construction of all their major projects have come to a halt.
http://www.nation.sc/articles/5493/vijay-construction-in-financial-limbo
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Seychelles Supreme Court wants guarantee of €20 million payment as Savoy Hotel case continues
Victoria, Seychelles | July 24, 2020, Friday @ 18:29 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 2524
http://www.seychellesnewsagency.com/articles/13270/Seychelles+Supreme+Court+wants+guarantee+of++million+payment+as+Savoy+Hotel+case+continues
Vijay Construction barrels towards bankruptcy as judge demands proof of payment | 25 July 2020
Vijay Construction won a small victory in court yesterday when judge Ellen Carolus granted their stay of execution application which temporarily suspended the freezing of their assets.
http://www.nation.sc/articles/5518/vijay-construction-barrels-towards-bankruptcy-as-judge-demands-proof-of-payment
Eastern European Engineering Ltd v Vijay Construction (Pty) Ltd ( Miscellaneous Application No. 275 of 2012) [2013] SCSC 24 (23
https://seylii.org/sc/judgment/supreme-court/2013/24-0
Eastern European Engineering Ltd vs Vijay Construction (Pty) Ltd (CC 15.2013) [2014] SCSC 70 (24 February 2014);
https://seylii.org/sc/judgment/supreme-court-commercial-list/2014/70-0
Government ‘satisfied’ with progress of work on Savoy resort project - 23.01.2013
A ministerial delegation has said it is “satisfied” with the progress of work at the Savoy Resort and Spa project, which is due for a soft opening in October this year.
A partial view of the Savoy resort under construction
A delegation made up of various government ministers visited the site at Beau Vallon on Monday afternoon to see for themselves the advancement of the project.
The team included the Minister for Finance, Trade and Investment Pierre Laporte, Minister for Land Use and Housing Christian Lionnet and a number of other high government officials.
Speaking to the media, Minister Laporte said although work on the project has been delayed recently, they are now satisfied with the progress being made.
“After the recent dispute where the contractor’s contract was terminated and which is being settled, the government has taken steps to help with the project’s progress. This includes the government giving more permits for foreign workers to come in, the department of health giving certain concessions on living facilities, and the department of land management giving a piece of land to build housing for the workers,” he said.
Minister Laporte said that the Savoy resort – a 164-room project – is a suitable size for the Beau Vallon area and will bring many benefits to the community and the country, such as employment, more tourists to our shores, and more tax for the government.
The delegation during the site visit on Monday
He added that the government will be more severe with developers who start construction projects and do not complete them although the constraints of the global economic crisis are understandable enough.
“We have made it clear to developers that either they shape up and complete their projects as promised, or the government will have no choice but to take back the land allocated to them since there are other investors waiting for such opportunities,” he said.
The Savoy resort project is said to cost 54 million Euros.
http://www.nation.sc/index.php?art=30221
Comment - we address the Truth commission , the Anti corruption commission and the FIU then President J A Michel in office and that SIROP program working how his government re engineered, re planned several development around this program and agreed to allow the construction of the project at the time the opposition and what was written in forums and blogs. Nobody never said a thank you let alone the Russian owners. That SIROP program important role in changing the USSR and the Privatisation then Sir James Mancham and President F A Rene knowledge and many others, the ICJ, the European Union, the UN.
Guta group which is a multi-national conglomerate with headquarters in Russia.
http://tadviser.com/index.php/Company:Guta_Holding_company
https://gutadevelopment.ru/en/page/about-company
https://en.wikipedia.org/wiki/List_of_companies_of_Russia
Victoria, Seychelles | July 24, 2020, Friday @ 18:29 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 2524
http://www.seychellesnewsagency.com/articles/13270/Seychelles+Supreme+Court+wants+guarantee+of++million+payment+as+Savoy+Hotel+case+continues
Vijay Construction barrels towards bankruptcy as judge demands proof of payment | 25 July 2020
Vijay Construction won a small victory in court yesterday when judge Ellen Carolus granted their stay of execution application which temporarily suspended the freezing of their assets.
http://www.nation.sc/articles/5518/vijay-construction-barrels-towards-bankruptcy-as-judge-demands-proof-of-payment
Eastern European Engineering Ltd v Vijay Construction (Pty) Ltd ( Miscellaneous Application No. 275 of 2012) [2013] SCSC 24 (23
https://seylii.org/sc/judgment/supreme-court/2013/24-0
Eastern European Engineering Ltd vs Vijay Construction (Pty) Ltd (CC 15.2013) [2014] SCSC 70 (24 February 2014);
https://seylii.org/sc/judgment/supreme-court-commercial-list/2014/70-0
Government ‘satisfied’ with progress of work on Savoy resort project - 23.01.2013
A ministerial delegation has said it is “satisfied” with the progress of work at the Savoy Resort and Spa project, which is due for a soft opening in October this year.
A partial view of the Savoy resort under construction
A delegation made up of various government ministers visited the site at Beau Vallon on Monday afternoon to see for themselves the advancement of the project.
The team included the Minister for Finance, Trade and Investment Pierre Laporte, Minister for Land Use and Housing Christian Lionnet and a number of other high government officials.
Speaking to the media, Minister Laporte said although work on the project has been delayed recently, they are now satisfied with the progress being made.
“After the recent dispute where the contractor’s contract was terminated and which is being settled, the government has taken steps to help with the project’s progress. This includes the government giving more permits for foreign workers to come in, the department of health giving certain concessions on living facilities, and the department of land management giving a piece of land to build housing for the workers,” he said.
Minister Laporte said that the Savoy resort – a 164-room project – is a suitable size for the Beau Vallon area and will bring many benefits to the community and the country, such as employment, more tourists to our shores, and more tax for the government.
The delegation during the site visit on Monday
He added that the government will be more severe with developers who start construction projects and do not complete them although the constraints of the global economic crisis are understandable enough.
“We have made it clear to developers that either they shape up and complete their projects as promised, or the government will have no choice but to take back the land allocated to them since there are other investors waiting for such opportunities,” he said.
The Savoy resort project is said to cost 54 million Euros.
http://www.nation.sc/index.php?art=30221
Comment - we address the Truth commission , the Anti corruption commission and the FIU then President J A Michel in office and that SIROP program working how his government re engineered, re planned several development around this program and agreed to allow the construction of the project at the time the opposition and what was written in forums and blogs. Nobody never said a thank you let alone the Russian owners. That SIROP program important role in changing the USSR and the Privatisation then Sir James Mancham and President F A Rene knowledge and many others, the ICJ, the European Union, the UN.
Guta group which is a multi-national conglomerate with headquarters in Russia.
http://tadviser.com/index.php/Company:Guta_Holding_company
https://gutadevelopment.ru/en/page/about-company
https://en.wikipedia.org/wiki/List_of_companies_of_Russia
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Seychelles Supreme Court extends suspension of judgement in Savoy Hotel case
Victoria, Seychelles | August 10, 2020, Monday @ 21:00 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 559
http://www.seychellesnewsagency.com/articles/13355/Seychelles+Supreme+Court+extends+suspension+of+judgement+in+Savoy+Hotel+case
Victoria, Seychelles | August 10, 2020, Monday @ 21:00 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 559
http://www.seychellesnewsagency.com/articles/13355/Seychelles+Supreme+Court+extends+suspension+of+judgement+in+Savoy+Hotel+case
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Seychelles' Supreme Court dismisses applications from Vijay Construction in Savoy Resort and Spa case
Victoria, Seychelles | August 14, 2020, Friday @ 18:14 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 458
http://www.seychellesnewsagency.com/articles/13385/Seychelles%27+Supreme+Court+dismisses+applications+from+Vijay+Construction+in+Savoy+Resort+and+Spa+case
Victoria, Seychelles | August 14, 2020, Friday @ 18:14 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 458
http://www.seychellesnewsagency.com/articles/13385/Seychelles%27+Supreme+Court+dismisses+applications+from+Vijay+Construction+in+Savoy+Resort+and+Spa+case
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Vijay Construction v Eastern European Engineering Limited | 04 September 2020
Mr Georges speaking to the press after the hearing (Photo: Joena Meme)
Vijay appeals court ruling for the last time
Even though the Court of Appeal has ended its sessions for the year it sat for a special hearing yesterday to hear the appeal of Eastern European Engineering Limited v/s Vijay Construction.
http://www.nation.sc/articles/5976/vijay-construction-v-eastern-european-engineering-limited
Mr Georges speaking to the press after the hearing (Photo: Joena Meme)
Vijay appeals court ruling for the last time
Even though the Court of Appeal has ended its sessions for the year it sat for a special hearing yesterday to hear the appeal of Eastern European Engineering Limited v/s Vijay Construction.
http://www.nation.sc/articles/5976/vijay-construction-v-eastern-european-engineering-limited
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Seychelles' top court dismisses Vijay Construction appeal, letting $22 million Savoy and Spa Resort verdict stand
Victoria, Seychelles | October 2, 2020, Friday @ 17:06 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 924
http://www.seychellesnewsagency.com/articles/13649/Seychelles%27+top+court+dismisses+Vijay+Construction+appeal%2C+letting++million+Savoy+and+Spa+Resort+verdict+stand
Victoria, Seychelles | October 2, 2020, Friday @ 17:06 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 924
http://www.seychellesnewsagency.com/articles/13649/Seychelles%27+top+court+dismisses+Vijay+Construction+appeal%2C+letting++million+Savoy+and+Spa+Resort+verdict+stand
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Next chapter in long-running Savoy Hotel court case to be heard Nov. 3 in Seychelles' Constitutional court
Victoria, Seychelles | October 20, 2020, Tuesday @ 14:24 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 759
http://www.seychellesnewsagency.com/articles/13735/Next+chapter+in+long-running+Savoy+Hotel+court+case+to+be+heard+Nov.++in+Seychelles%27+Constitutional+court
Victoria, Seychelles | October 20, 2020, Tuesday @ 14:24 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 759
http://www.seychellesnewsagency.com/articles/13735/Next+chapter+in+long-running+Savoy+Hotel+court+case+to+be+heard+Nov.++in+Seychelles%27+Constitutional+court
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Vijay Construction v/s EEEL | 06 November 2020
Notice of motion presented in Court of Appeal
http://www.nation.sc/articles/6726/vijay-construction-v-s-eeel
Notice of motion presented in Court of Appeal
http://www.nation.sc/articles/6726/vijay-construction-v-s-eeel
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Court of Appeal deems Vijay Construction’s application as ‘frivolous, vexatious and abuse of court process’ | 14 November 2020
The long-running legal battle between Vijay Construction and former clients Eastern European Engineering Limited (EEEL) took another turn yesterday, when the Court of Appeal set aside an application forwarded by Vijay’s lawyer Phillipe Boule, on account that the court does not have jurisdiction to hear the application.
http://www.nation.sc/articles/6813/court-of-appeal-deems-vijay-constructions-application-as-frivolous-vexatious-and-abuse-of-court-process
The long-running legal battle between Vijay Construction and former clients Eastern European Engineering Limited (EEEL) took another turn yesterday, when the Court of Appeal set aside an application forwarded by Vijay’s lawyer Phillipe Boule, on account that the court does not have jurisdiction to hear the application.
http://www.nation.sc/articles/6813/court-of-appeal-deems-vijay-constructions-application-as-frivolous-vexatious-and-abuse-of-court-process
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Seychelles' Constitutional court lets $22 million verdict against Vijay Construction on Savoy Hotel case stand
Victoria, Seychelles | November 24, 2020, Tuesday @ 19:17 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 776
http://www.seychellesnewsagency.com/articles/13918/Seychelles%27+Constitutional+court+lets++million+verdict+against+Vijay+Construction+on+Savoy+Hotel+case+stand
Victoria, Seychelles | November 24, 2020, Tuesday @ 19:17 in National » GENERAL | By: Daniel Laurence Edited by: Betymie Bonnelame | Views: 776
http://www.seychellesnewsagency.com/articles/13918/Seychelles%27+Constitutional+court+lets++million+verdict+against+Vijay+Construction+on+Savoy+Hotel+case+stand
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Constitutional Court dismisses petition in Vijay v EEEL case | 25 November 2020
The Constitutional Court yesterday dismissed a petition in the case involving Vijay Construction versus the Eastern European Engineering Limited.
http://www.nation.sc/articles/6945/constitutional-court-dismisses-petition-in-vijay-v-eeel-case
The Constitutional Court yesterday dismissed a petition in the case involving Vijay Construction versus the Eastern European Engineering Limited.
http://www.nation.sc/articles/6945/constitutional-court-dismisses-petition-in-vijay-v-eeel-case
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The nine-year Vijay v/s EEEL saga continues | 24 February 2021
The saga of Vijay Construction versus Eastern European Enterprise Limited (EEEL) continued yesterday in an appeal hearing presided over by Chief Justice Ronny Govinden.
http://www.nation.sc/articles/7979/the-nine-year-vijay-v-s-eeel-saga-continues
The saga of Vijay Construction versus Eastern European Enterprise Limited (EEEL) continued yesterday in an appeal hearing presided over by Chief Justice Ronny Govinden.
http://www.nation.sc/articles/7979/the-nine-year-vijay-v-s-eeel-saga-continues
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Winding-up process dismissed, Vijay serves ball
The Supreme Court dismissed Vijay Construction’s winding up petition to close their company due to failure to comply with legal procedures. The ball bounced back into Vijay’s court yesterday 9 March when the Court of Appeal approved a hearing allowing Vijay Construction’s lawyer to argue for a reopening of the case – thus postponing payments owed to Eastern European Engineering Limited (EEEL) once more.
Read the full story in TODAY in Seychelles, subscribe to eTODAY, our online edition
Click to subscribe to eTODAY https://www.todayinseychelles.com/subscribe/signup
https://www.facebook.com/todayinsey/photos/a.417785501592599/3762385967132519/
The Supreme Court dismissed Vijay Construction’s winding up petition to close their company due to failure to comply with legal procedures. The ball bounced back into Vijay’s court yesterday 9 March when the Court of Appeal approved a hearing allowing Vijay Construction’s lawyer to argue for a reopening of the case – thus postponing payments owed to Eastern European Engineering Limited (EEEL) once more.
Read the full story in TODAY in Seychelles, subscribe to eTODAY, our online edition
Click to subscribe to eTODAY https://www.todayinseychelles.com/subscribe/signup
https://www.facebook.com/todayinsey/photos/a.417785501592599/3762385967132519/
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New justices of appeal sworn in for EEEL vs Vijay Construction case
Victoria, Seychelles | October 10, 2022, Monday @ 13:59 in National » GENERAL | By: Sedrick Nicette Edited By: Betymie Bonnelame | Views: 735
http://www.seychellesnewsagency.com/articles/17541/New+justices+of+appeal+sworn+in+for+EEEL+vs+Vijay+Construction+case
Victoria, Seychelles | October 10, 2022, Monday @ 13:59 in National » GENERAL | By: Sedrick Nicette Edited By: Betymie Bonnelame | Views: 735
http://www.seychellesnewsagency.com/articles/17541/New+justices+of+appeal+sworn+in+for+EEEL+vs+Vijay+Construction+case
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Vijay Construction (Proprietary) Limited vs Eastern European Engineering Limited |13 October 2022
Court of Appeal dismisses one application and grants a second
https://www.nation.sc/articles/15407/vijay-construction-proprietary-limited-vs-eastern-european-engineering-limited
Court of Appeal dismisses one application and grants a second
https://www.nation.sc/articles/15407/vijay-construction-proprietary-limited-vs-eastern-european-engineering-limited
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EEEL vs Vijay Construction: Seychelles Court of Appeal to give ruling next week
Victoria, Seychelles | October 14, 2022, Friday @ 19:33 in National » GENERAL | By: Sedrick Nicette Edited By: Betymie Bonnelame | Views: 368
http://www.seychellesnewsagency.com/articles/17570/EEEL+vs+Vijay+Construction+Seychelles+Court+of+Appeal+to+give+ruling+next+week
Victoria, Seychelles | October 14, 2022, Friday @ 19:33 in National » GENERAL | By: Sedrick Nicette Edited By: Betymie Bonnelame | Views: 368
http://www.seychellesnewsagency.com/articles/17570/EEEL+vs+Vijay+Construction+Seychelles+Court+of+Appeal+to+give+ruling+next+week
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Vijay Construction loses EEEL appeal |22 October 2022
https://www.nation.sc/articles/15534/vijay-construction-loses-eeel-appeal
https://www.nation.sc/articles/15534/vijay-construction-loses-eeel-appeal
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Seychelles' Supreme Court auctions Vijay Construction's vehicles
Victoria, Seychelles | January 5, 2023, Thursday @ 15:55 in National » GENERAL | By: Rita Joubert-Lawen Edited by: Betymie Bonnelame | Views: 632
http://www.seychellesnewsagency.com/articles/17988/Seychelles%27+Supreme+Court+auctions+Vijay+Construction%27s+vehicles
Victoria, Seychelles | January 5, 2023, Thursday @ 15:55 in National » GENERAL | By: Rita Joubert-Lawen Edited by: Betymie Bonnelame | Views: 632
http://www.seychellesnewsagency.com/articles/17988/Seychelles%27+Supreme+Court+auctions+Vijay+Construction%27s+vehicles
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Vijay’s vehicles go under the hammer By Laura Pillay |06 January 2023
https://www.nation.sc/articles/16430/vijays-vehicles-go-under-the-hammer--by-laura-pillay-
https://www.nation.sc/articles/16430/vijays-vehicles-go-under-the-hammer--by-laura-pillay-
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