Menlo Park Ltd has served a notice on the Bank of Mauritius, demanding $19.55 million in damages. The notice, signed by Me Jaykar Gujadhur, claims the bank owes Menlo Park $9.25 million in lost value of its shares, $5.3 million in lost investment, and $5 million in damage to its reputation. The bank has one month to comply, or Menlo Park reserves the right to take action.
At the center of the notice is a section titled "The Sithanen deal." Menlo Park alleges that Rama Sithanen, then a candidate for governor of the Bank of Mauritius, and his son Tevin Sithanen, discussed a financing request with Menlo Park officials between October 17 and 24, 2024. Menlo Park claims Rama Sithanen implied he would be appointed governor and could secure $6.3 million in funding if a commission was paid to him and/or his son.
Menlo Park says it refused to pay the commission and continued with its existing funding request to the Mauritius Investment Corporation (MIC). The MIC ultimately invested $1 million in Menlo Park in late October 2024. However, after Rama Sithanen became governor, he publicly described the transaction as a fraud during a press conference on December 7, 2024, and Menlo Park's account was frozen.
Menlo Park sees the events as a retaliation, while the Bank of Mauritius views it as exposing a diversion of funds. The case took a public turn on September 15, 2025, when a WhatsApp conversation recording went viral. Two Menlo Park administrators, Stéphane Adam and Aditi Boolell, confirmed their participation in the conversation and identified Tevin Sithanen as the third interlocutor.
The WhatsApp conversation, transcribed under oath, suggests Tevin Sithanen invoked his father's authority and claimed influence over the MIC. He also allegedly mentioned the possibility of arrest. The case raises questions about whether Rama Sithanen, as governor, used the central bank's powers against Menlo Park after a private financial arrangement failed.
The Bank of Mauritius has one month to respond to Menlo Park's notice. The case may ultimately be decided by the courts if it is pursued. Rama Sithanen's actions as governor and his public statements about the Menlo Park transaction are under scrutiny.
The outcome of this case will depend on the court's interpretation of the evidence and the actions of the parties involved. The Bank of Mauritius's response to Menlo Park's notice will be crucial in determining the next steps in this matter.
Key points
- Menlo Park Ltd demands $19.55 million in damages from Bank of Mauritius.
- Rama Sithanen's actions as governor and his public statements about Menlo Park transaction are under scrutiny.
- The case may ultimately be decided by the courts if it is pursued.
