Former NSK business partner sets record straight
Lakhi Bherwani is helping DCG and authorities to track former business partner
Lakhi Bherwani, the former business partner in NSK, an IT reseller company that recently exited the Dubai channel after allegedly failing to meet its debt obligations, has said he had nothing to do with the demise of the company from the market.
NSK is alleged to have swindled Dubai-based IT distributors, resellers and traders of products valued at AED10m ($2.7m).
The latest reseller run away comes after relative calm in the Dubai IT channel that three years ago was rocked by PC traders fleeing the market with unpaid debts.
Bherwani said in an interview with Channel Middle East that he sold his stake in NSK for AED1.8m to Yashpal Singh in September 2013 and went on to start a new business venture New JBK General Trading, a company that specialises in consumer electronics, PC peripherals and sundry products like shoes. “I maintained no contact with my former business partner after I moved out of that business partnership,” he said. “My exit from NSK was transparent as we concluded the sale in the presence of my local sponsors.”
Bherwani explained that while the latest run away case is a sad development for the whole IT channel, he has been compelled to speak out because he wants to clear his name. “I have also lost AED600,000, money owed to me from the sale of my shares in NSK. I have given all the necessary information to DCG and authorities investigating this case to help track the owner of the company,” he said.
Shailendra Rughwani, president at DCG, confirmed that Bherwani is helping the association and authorities with the investigations. “As an association, we want to point out that Lakhi complied with the legal requirements of selling a stake in a company,” he said.
Rughwani said the DCG can also confirm that it has received an application for membership from New JBK General Trading and that process is under consideration.