INDUSTRIAL product supplier GRP Limited announced on Wednesday that one of its independent directors, Mahtani Bhagwandas, was recently interviewed by the authorities over an investigation involving certain private companies in which he is, or was, a nominee director.

 

In a regulatory filing, GRP said Mr Mahtani had attended an interview with the Commercial Affairs Department (CAD) on May 17. He had informed the group that he is " not the subject of the investigation and was assisting in the investigation" .

 

He also confirmed that there are no restrictions or conditions imposed by the CAD on him, and that his travel document was not retained.

 

He has sought legal advice on the investigation, which is still ongoing. No charges have been made against any person or entity as of now, said GRP.

 

There is therefore no reason to question the suitability of Mr Mahtani to continue as director, said the group. The nominating committee, excluding Mr Mahtani, will re-assess its view as and when a basis to do so arises, and when further information is available.

 

Mr Mahtani, a lawyer by profession, is a founding partner in LegalStandard LLP. He was recently in the news for his role as counsel for the mistress of the murder victim in the high-profile Boon Tat Street killing case in 2017.

 

On Aug 20, GRP chairman Daniel Teo Tong How acquired 54,000 shares of the listed company for a consideration of S$9,720.

 

At 18 cents per share, this increased his direct interest in GRP from 4.44 per cent to 4.47 per cent.

 

Mr Teo is the managing director of Hong How Group of Companies and director of Tong Eng Brothers Group.

 

The businesses of these companies include property development and investment holding in sectors such as commercial, residential, industrial and hospitality in Singapore, Malaysia, Australia, the US, UK, Spain and Sweden.