The Kuros Affair: FCC Investigates Financial Aid Linked to Renganaden Padayachy

The ex-Minister of Finance of Mauritius was arrested twice this month in April. Renganaden Padayachy, is at the heart of a wide-ranging investigation into alleged misappropriation within the Mauritius Investment Corporation (MIC), a fund charged to help companies in difficulty after the Covid-19 pandemic. Colossal sums of this fund managed by a subsidiary of the Bank of Mauritius would have been used by companies close to the former regime.

The recent double arrest of the former Minister of Finance, Renganaden Padayachy, marks a symbolic turning point in the political-judicial sequence that has been agitating Mauritius since the change of regime in November 2024. In parallel with the allegations of abuse of power and influence on Renganaden Padayachy, several pillars of the economic and financial sphere, including the CEO of the "Mauritius Investment Corporation" (MIC), Jitendra Bi…

Renganaden Padayachy, already under the influence of a