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Indian Businessman’s Alleged Land Grab Bid Sparks N21.5Bn Lekki Property Dispute
An audacious bid by Indian oil trader Ramesh Kasangra to acquire a prime Lekki property has ignited a major legal battle, with a Lagos High Court issuing restraining orders to protect the status quo.
Mr. Kasangra, the controller of 11Plc, is alleged to be at the centre of a scheme to hijack a land deal already sealed with Bravematt Properties and Investment.
Sources revealed that Kasangra, accompanied by thugs and MOPOL officers, had been intimidating parties to the deal.
He is said to be pushing Kabiru Ayinde, a known figure at the EFCC, to sell the land to him by offering to double the price if Bravematt is refunded.
The property in question is located at the Maiyegun Tourism Zone, Ibeju-Lekki, and has been the subject of a previous court case where Bravematt accused Four H Limited and IGI of fraud.
This led to the arrest of Mr. Ayinde and his associate, Akinlolu, by the EFCC. They reportedly escaped prosecution after a plea to Bravematt, amid revelations that Ayinde, through Coopvest Nigeria Limited, had defrauded a Chief Uduboh of over N6 billion on the same land.
It will be recalled that Justice R. O. Olukolu of the Lagos High Court, Igbosere, last December issued orders barring IGI and Four H from transferring the 13.067-hectare land.
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The court also restrained IGI from withdrawing N7.475 billion from its Keystone Bank account, representing the final balance of the N21.5 billion purchase price paid by Bravematt.
Neither of the accused has reacted to the allegations as of the time of filing the report.