KOCHI: The authorities at Xstream Management India Ltd on MG Road here, where a group broke into and decamped with important documents, have lodged a complaint with Chief Minister Pinarayi Vijayan in this regard. Xstream, which holds the power of attorney of three UAE Banks, is the authorised agent to initiate legal proceedings in Kerala against NRK businessmen who allegedly duped the UAE banks by producing fake documents and fled to Kerala.
A group of businessmen under the banner of UAE business Losers Association on Tuesday told reporters here Prince Subrahmanian, proprietor and Chief executive of Xstream Management Ltd, was attempting to tarnish their image by portraying them in the media as frauds.
“I hold the power of Attorney to act as an agent of the National Bank of Ras Al-Khaimah, National Bank of Fujairah and Arab Bank. “I am not the recovery agent of the banks, but offer service to help the banks track down those who flee the Emirate after availing loans by producing fake documents. The papers stolen from our office are important documents which constitute the evidence to prove the fraud committed by some businessmen in the dealings with the UAE banks. CCTV footage shows a group of people entering the office. Two of them are our former staff who left the company on January 12 and February 17, respectively.