Aftermath of BAI Crisis: Sale of Apollo Bramwell Hospital Finalised Soon

A number of buildings and office spaces belonging to the BAI group will be put on sale. Apollo Bramwell’s sale might be finalised this week. The money obtained from the transactions will then be injected into the funds to reimburse its clients.

apollo bramwell

Apollo Bramwell hospital might find itself with new owners this very week.

The government-nominated Special Administrators, Mushtaq Oosman and Yogesh Basgeet, are currently working on new procedures pertaining to the BAI crisis: the selling of buildings of the firm, and more particularly their office spaces. The government will thus use the money obtained to reimburse clients of the BAI, the Bramer Asset Management, and other subsidiary groups of the firm.

Up until now, the State has directed part of the funds to the creation of the National Commercial Bank and the National Property Fund. The Bank of Mauritius also participated in returning the money of BAI clients, more specifically those registered under the Super Cash Back Gold program.

The Apollo Bramwell hospital, Iframac, and Courts have already been put on sale. Now, the administrators are focusing on the building complex Diplomat Gardens situated at Floreal which consists of 16 luxurious flats belonging to Dawood Rawat and his daughters. If the latter, Laina and Adeela Rawat, do not reimburse around Rs 410 million in one week, the flats will be sold out.

Furthermore, offices located at Ebene in the Bramer House spanning over the ground-floor to 6 floors including 52 parking spaces will be put to sale. More offices at the St James Court at Port-Louis, together with 7 parking spaces, will also be sold.

The complex of the Bramer Bank located at Remy Ollier and Bourbon Streets, Port-Louis, are also included. Another building, the Pridiya Building, located at Bourbon Street, might be sold as well.

Moreover, the sale of Apollo Bramwell hospital, Iframac and Courts might be finalised this very week.

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