Businessman Harun Abidin Has Again Won Against Cedrus Investment

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JAKARTA – Cedrus Investment Ltd, an investment company owned by foreign businessman Rani T Jarkas, has lost to Indonesian businessman Harun Abidin and Indonesian Central Securities Depository (KSEI) at the Jakarta High Court in a case of a company stock dispute being investigated by the police.

The decision of the Jakarta High Court is contained in letter Number 319/ Pdt/2018/PT.DKI dated December 6, 2018, signed by Legito as the court’s bailiff. The decision of the Jakarta High Court strengthens the decision of the South Jakarta District Court which was terminated in 2017.

For the victory at the appeal, Indonesian businessmam Harun Abidin has asked the Indonesian National Police (Polri) to arrest and bring Rani T. Jarkas in Indonesia to account for his actions which had caused him losses.

“I hope that the Indonesian National Police will issue a red notice against Rani so that Rani’s movements will be limited, especially since Rani never wants to come to Indonesia to fulfill the investigator’s summons,” said Harun Abidin’s attorney Jimmy Manurung, SH, to reporters on Thursday (01/09/2019).

Previously, the South Jakarta District Court rejected all Cedrus Investment’s claims against Harun Abidin in a business dispute investigated by the police. The panel of judges chaired by Effendi Muchtar and members Asiadi Sembiring and Ganjar Pasaribu on Wednesday (11/15/2017) in Jakarta rejected all Cedrus Investment claims against the defendant Harun Abidin, KSEI, Standard Chartered, PT Tata Artha, and also the defendants of the Criminal Investigation Agency (Bareskrim) of Polri.

According to the records, the dispute of Harun Abidin and Cedrus Investment began with Harun Abidin’s report to the police that Rani Jarkas as the owner of Cedrus Investmen allegedly embezzled the shares of Cakra Mineral Tbk owned by reporter Harun Abidin placed at Cedrus Investment. In the next process, the police issued a request to block the shares of Cakra Mineral Tbl, Cokal Ltd, Pan Asia, and ORH Ltd, which were valued at US $ 22 million to KSEI to prevent transactions.

Furthermore, KSEI blocked the shares of Cakra Mineral. This is considered by Cedrus Investment as an illegal act, so it sued the court.

The panel of judges in the decision number 918/Pdt.G/2016/PT JKT. Sel considered that Harun Abidin’s report to the
In addition, the panel of judges also considered that the police request to KSEI to block the shares of Cakra Mineral was not illegal. And, KSEI’s following up on the police’s request to block the shares of Cakra Mineral were also not illegal. (*)