07 AprKin of stranded trader fall on hard times
MUMBAI: The financial position of Shyamsundar Agarwal’s family is gradually worsening. His wife, Jyoti, is finding it hard to pay her children’s fees and dues of their Elphinstone Road flat.
Two Indian traders-Shyamsunder Agarwal and Deepak Raheja-are embroiled in a legal dispute in China. The two were abducted and tortured after their trading firm’s owner fled without paying his dues to businessmen in south China’s Yiwu city last year.
“I am supposed to cough up Rs 4 lakh as fees towards my elder son’s medical education. My younger son studying management is seeking admission to a post-graduate course,” said Jyoti Agarwal. “We are even finding it hard to fork out monthly maintenance of the housing society,” he added.
There are no signs of Shyamsundar coming back soon as the Chinese administration is extending their visa till the time they settle the economic offence registered against them. Shyamsundar and Raheja are living on the streets of Shanghai after they were released on bail.
“Indian consular officials have extended some money so that we can go to Yiwu city for visa extension and stay there for two days,” said Shyamsundar.
He claims he has been falsely implicated in a case after he was forced to sign fake invoices. Initially, Shyamsundar and Raheja were kidnapped by Chinese traders after their company, Euro Global, failed to make payments against delivery of some goods.
Shyamsundar’s wife wired some money by selling ornaments and other movable assets to get them released. Later the police produced both the parties in the court upon which the two were granted bail.
They owe Chinese traders nearly $1.58 million. However, the Yemeni owner of the company, where the two worked, is absconding. They cannot leave the country until they honour commitments to businessmen.