Pinkesh Nahar assets frozen by Singapore court

Pinkesh Nahar, the founder of the multi-billion dollar commodity trading firm Radiant World, has had $499.2 million in assets frozen by a Singapore court. The legal action follows disputes with creditors and financial partners.

In addition to the asset freeze, the court has limited Nahar’s personal weekly spending to $5,400. The freeze includes Radiant World’s deposits at several international banks as well as Nahar’s personal assets in Singapore, intended to prevent the transfer or loss of funds during the ongoing legal proceedings.

KPMG restructuring experts were appointed as judicial managers for Radiant World’s Singapore operations in late September. The company is currently facing scrutiny regarding transaction documentation, leading some trading partners to re-evaluate their relationships with the firm as Nahar faces direct payment demands from creditors.