Brassington, Marcia Nadir-Sharma’s contempt can no longer be tolerated
…Berbice Bridge makes about turn on disclosures – Chris Ram
The disregard and contempt of the law by Winston Brassington and Marcia Nadir-Sharma can no longer be tolerated or excused on the grounds of age, inexperience, incompetence or ignorance.
This is the position held by Financial Analyst, Christopher Ram, who in his latest business review posted on chrisram.net, said that while the Berbice Bridge Company has revised its stance on the disclosure of information, the same is not the case for the National Industrial and Commercial Investments Limited (NICIL) and Atlantic Hotel Inc.(AHI).
Brassington serves as the Executive Head of both NICIL and AHI, while Nadir-Sharma serves as his deputy on both entities.
Ram a week ago had made public the fact that the Company Secretary for the Berbice Bridge Company, had refused to make available to him the information he requested on the operations of the company.
The Bridge Company had demanded that Ram justify his request but the chartered accountant said that this was not a requirement given that it was his right under the Companies Act to make such a request without giving a reason.
“I received a letter from the Company Secretary advising me that the company had been advised that I am entitled to access and could visit the registered office within normal working hours…I commend the directors of the Bridge Company for their responsible action in this matter.”
Ram said, “Small as that matter may seem, it is a significant development in corporate compliance as companies, their directors and officers become increasingly aware that they are required to comply with the Companies Act to which accountability and transparency are central.”
This, however, is not the case with the head of NICIL, Brassington, or his deputy Nadir-Sharma.
According to Ram, at the time of making the original request of the Berbice Bridge Company, “I also sent similar letters to Winston Brassington of NICIL and Marcia Nadir-Sharma of Atlantic Hotel Inc (AHI).”
Ram said in his online post that neither Brassington nor Nadir-Sharma has responded to those letters or reminders sent one week later.
“In the reminder letter I indicated my intention to pursue the matter as legally advised…The disregard and contempt of the law by Brassington and Nadir-Sharma can no longer be tolerated or excused on the grounds of age, inexperience, incompetence or ignorance.”
Ram said, too, that NICIL and AHI have retained just about every law firm in Georgetown in the belief that they can limit the number of firms professionally free to act against them.
“So Brassington and Nadir-Sharma, two key officers of these entities, should know that the indemnification provisions of the Companies Act only apply to the director or officer who has acted honestly and had reasonable ground for believing their conduct was lawful…Contempt for the law is hardly an honest act.”
