<figure id="attachment_3264951" aria-describedby="caption-attachment-3264951" style="width: 1600px" class="wp-caption aligncenter"><img loading="lazy" class="wp-image-3264951 size-full" src="https://media.freemalaysiatoday.com/wp-content/uploads/2026/01/ac0379d6-nv-vemal-bernama-pic-230126.webp" alt="" width="1600" height="1000" /><figcaption id="caption-attachment-3264951" class="wp-caption-text">NV Vemal, a former senior manager with Kuala Lumpur Kepong Bhd, pleaded not guilty to both charges in the Ipoh magistrates’ court. (Bernama pic)</figcaption></figure>
PETALING JAYA: A former senior manager of a multinational company was charged in the Ipoh magistrates’ court today with two counts of dishonestly receiving and concealing money totalling more than RM1.4 million belonging to an Indonesian firm three years ago.
NV Vemal, 36, pleaded not guilty to both charges after they were read before magistrate S Punitha, Bernama reported.
Vemal is accused of dishonestly receiving stolen property by accepting cash amounting to RM1,479,289.94 via his Maybank account, knowing that the money belonged to PT Parit Sembada, a subsidiary of Kuala Lumpur Kepong Bhd.
The charge was framed under Section 411 of the Penal Code, which provides for up to five years’ imprisonment, a fine, or both, upon conviction.
He is also accused of dishonestly concealing property by transferring RM1,082,005 from a Maybank account in his name to a company’s account, despite knowing that the money belonged to PT Parit Sembada.
The charge was also framed under Section 424 of the Penal Code, which provides for up to five years’ imprisonment, a fine, or both, upon conviction.
Both offences were allegedly committed at a Maybank branch at Jalan Sultan Idris Shah in Ipoh on Sept 29, 2023.
The prosecution was conducted by deputy public prosecutor Zulqarnain Wan Asmira, who proposed bail of RM15,000 for both charges, with the additional condition that Vemal surrender his passport to the court, as he was previously spotted in Indonesia.
Defence counsel Gurbachan Singh and Aashwini Rajan informed the court that Vemal was currently unemployed and had no income.
However, they did not object to the bail amount proposed by the prosecution and said the accused would surrender his passport.
The court set bail at RM7,000 for both charges and fixed March 19 for re-mention of the case.

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