00:02Businessman Datuk Ranjit Singh Sidhu pleaded not guilty at the Kuala Lumpur Sessions Court
00:07on Monday to a charge of offering an RM8 million bribe to the former president of a bank 14
00:13years ago.
00:14The 56-year-old is accused of providing a bribe to the former president and managing
00:20director of the bank through an intermediary as an inducement to approve a RM400 million
00:26loan application by V Telecom's Berhad.
00:30The loan was intended to finance the development of a coastal fibre optic network covering the
00:36entire peninsula Malaysia.
00:38The offence under Section 16 of the Malaysian Anti-Corruption Commission Act 2009 was allegedly
00:45committed at a bank on Jalan Sultan Ismail on June 29, 2012.
00:50Ranjit also faces a separate charge of fraudulently submitting false particulars in a joint completion
00:57guarantee to satisfy the conditions for the approval of the RM400 million loan for the
01:03same project, allegedly at the same location and time.
01:07Earlier during the proceedings, Deputy Public Prosecutor Farah Eslin Yousop Khan offered bail
01:14of RM150,000, along with additional conditions requiring the surrender of the accused's passport
01:21and monthly reporting to the MACC headquarters until the disposal of the case.
01:28Ranjit's counsel, Datuk Gobinath Mohana, requested a lower bail amount and informed the court that
01:34his client's passport is currently held by the MACC.
01:38Judge Rosli Ahmad granted bail of RM150,000 and imposed the additional conditions as requested
01:46by the prosecution and fixed March 30 for the next case mention.
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01:58You
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