Difference between revisions of "Moni Varma"

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Moni Varma is the Managing Director of the [[Veetee Rice Company]], one of the largest producers of rice in the UK. He gave more than £5,000 to the [[Labour Party]] in 1999-2000 and £10,000 in 2001. He used to work as a steel and commodity trader. Veetee Rice is based in Rochester, Kent.Their turnover in 1998-99 was £55 million. His personal wealth is estimated at £40 million.<ref>Available through: [http://www.red-star-research.org.uk/subframe5.html Red Star Research search function]</ref>
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'''Moni Varma''' is the managing director and founder of [[Veetee Rice Company]], one of the largest producers of rice in the UK.
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==Career==
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When Varma originally arrived in England in the early 1980s he intended to use in background in steel production in Malawi to start a plant producing reinforcement mesh. However, his relatives in northern India had other ideas and wanted to sell rice in Britain and wanted Varma to help with contacts.
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In 1987 [[Veetee Rice Company]] was set up and currently has a turnover of £80 million.<ref> Bob Sherwood and Melissa East [http://www.ft.com/intl/cms/s/0/00bb3526-c83e-11e0-9852-00144feabdc0.html#axzz3W32gzqBv UK rice king makes a name for himself] ''Financial Times'', 16 August 2011, accessed 1 April 2015 </ref>
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==Controversies==
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===Suing Mittal===
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In 2011 it was announced Varma planned to sue his former friend and Britain's richest man [[Lakshmi Mittal]] for allegedly going back on a multi-million dollar agreement to pay fees to Varma for helping to secure an oil deal in 2006 with [[Olusegun Obasanjo]], the former Nigerian president. At the time, Mittal dismissed the claim saying the claim will be defended vigorously.<ref> Rajeev Syal [http://www.theguardian.com/business/2011/jun/23/businessman-sues-lakshmi-mittal-oil-deal Lakshmi Mittal sued by former friend over Nigerian oil deal] ''Guardian'', 23 June 2011, accessed 1 April 2015 </ref>
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In 2013 the case was resolved at the 'eleventh hour' with an out-of-court settlement.<ref> Harriet Dennys [http://www.telegraph.co.uk/finance/comment/citydiary/9911026/City-Diary-Lakshmi-Mittal-settles-oil-deal-feud-with-former-friend-Moni-Varma.html City Diary: Lakshmi Mittal settles oil deal feud with former friend Moni Varma] ''Telegraph'', 6 March 2013, accessed 1 April 2015 </ref>
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===Donations===
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<table cellspacing="0" cellpadding="3" border="1" float="left" align="left" width="100%">
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<tr>
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<th bgcolor="goldenrod" width="20%">Date</th>
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<th bgcolor="goldenrod" width="20%">Name of donor</th>
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<th bgcolor="goldenrod" width="20%">Amount</th>
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<th bgcolor="goldenrod" width="20%">Donated to</th>
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<th bgcolor="goldenrod" width="20%">Subsidiary (parties only)</th>
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</tr>
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<tr>
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<td align="center">23/05/2001</td>
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<td align="center">Moni Varma</td>
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<td align="center">£10,000.00</td>
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<td align="center">[[Labour Party]]</td>
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<td align="center">Central Party</td>
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</tr>
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</table>
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<ref> Electoral Commission, [https://pefonline.electoralcommission.org.uk/Search/CommonReturnsSearch.aspx?type=basicDonationSearch Donation Search], accessed 1 April 2015 </ref>
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<br>
  
 
==References==
 
==References==
 
<references/>
 
<references/>
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[[Category:Labour Party Donors|Varma, Moni]]

Revision as of 09:47, 1 April 2015

Moni Varma is the managing director and founder of Veetee Rice Company, one of the largest producers of rice in the UK.

Career

When Varma originally arrived in England in the early 1980s he intended to use in background in steel production in Malawi to start a plant producing reinforcement mesh. However, his relatives in northern India had other ideas and wanted to sell rice in Britain and wanted Varma to help with contacts.

In 1987 Veetee Rice Company was set up and currently has a turnover of £80 million.[1]

Controversies

Suing Mittal

In 2011 it was announced Varma planned to sue his former friend and Britain's richest man Lakshmi Mittal for allegedly going back on a multi-million dollar agreement to pay fees to Varma for helping to secure an oil deal in 2006 with Olusegun Obasanjo, the former Nigerian president. At the time, Mittal dismissed the claim saying the claim will be defended vigorously.[2]

In 2013 the case was resolved at the 'eleventh hour' with an out-of-court settlement.[3]

Donations

Date Name of donor Amount Donated to Subsidiary (parties only)
23/05/2001 Moni Varma £10,000.00 Labour Party Central Party

[4]

References

  1. ↑ Bob Sherwood and Melissa East UK rice king makes a name for himself Financial Times, 16 August 2011, accessed 1 April 2015
  2. ↑ Rajeev Syal Lakshmi Mittal sued by former friend over Nigerian oil deal Guardian, 23 June 2011, accessed 1 April 2015
  3. ↑ Harriet Dennys City Diary: Lakshmi Mittal settles oil deal feud with former friend Moni Varma Telegraph, 6 March 2013, accessed 1 April 2015
  4. ↑ Electoral Commission, Donation Search, accessed 1 April 2015
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