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Coimbatore
Yusuf Ali gets stay on directorship ban
September 23, 2017
Kochi: Business tycoon M A Yusuf Ali has obtained stay from Kerala High Court against his disqualification as director of the government’s NORKA Roots for the institution’s failure to file tax returns for three years.
The stay is for a month.
Besides Yusuf Ali, all directors of the Department of Non-Residents Kerala Association (NORKA) were disqualified by the Centre. They include prominent businessmen Ravi Pillai, Azad Moopen, US-based doctor Dr Anirudhan among others.
The Centre had disqualified many directors, including former Kerala Chief Minister Oommen Chandy, Opposition Leader Ramesh Chennithala, former KPCC president VM Sudheeran of Congress mouthpiece ‘Veekshanam’ for failing to file tax returns.
This was part of government’s move to crush shell companies operating to help money laundering. Such companies are believed to use black money for investment.
