Arnold Sankar and Sons Rice Mill is suing the Guyana Rice Development Board (GRDB) for $99.6M for alleged breach of a paddy supply deal and related costs.
In the statement of claim, dated November 7th, businessman Arnold Sankar said that during the first rice crop of 2015, the GRDB requested that his company purchase as much paddy as was available on the market, at a price of between $3,000 and $3,300 per bag. He identified the parties to the agreement as then GRDB General Manager Jagnarine Singh, accountant Peter Ramcharran and the Deputy General Manager Madanlall Ramraj.