The Dewani dynasty - PSP Healthcare Ltd.

[Mr Moderator]

Relatively little is known about the Dewani family, in comparison to Anni Dewani's outspoken family, the Hindochas, who have maintained a steady presence in the media coverage of the Swedish woman's murder and the subsequent trial.

Based in Westbury-on-Trym in Bristol in the United Kingdom, the wealthy Dewani family owns PSP Healthcare Ltd, which manages a chain of luxury nursing homes and retirement developments across the south-west of England and Wales. They own an estate called Prabhu Krupa Villa, in an affluent neighbourhood of Westbury-on-Trym.

According to a family profile on the International Network for Asian Businesses, Shrien Dewani's grandfather Prabhudas emigrated to the UK from Kenya, where he set up shop with his son, Prakash, a pharmacist.

Shrien Dewani has a brother, Preyen and is close to his father. His mother has not featured in the coverage of his trial.
 
Prakash Dewani

Shrien Dewani's father is the owner of PSP Healthcare.

He was the first family member Shrien called following his and Anni's kidnapping in Cape Town, while the couple were on honeymoon.

Dewani immediately flew himself and Anni's father, Vinod Hindocha, to South Africa to be with Shrien. The three of them accompanied Anni's body back to the United Kingdom on November 16, 2010, three days after she was shot dead in the back seat of a hijacked car, in the township of Gugulethu.

Dewani has proved to be very protective of his son during his drawn-out extradition hearing, promising the Belmarsh Magistrate's Court he would monitor Shrien "around the clock" following a massive drug overdose that made him a suicide risk in the eyes of South African authorities. Shrien took a cocktail of 46 pills prescribed for anxiety and insomnia while in hospital, as he repeatedly delayed his court appearances, citing ill-health.

Dewani's friends, Peter Dhaya and Heather Raghavjee, live in King Williams Town in South Africa's Eastern Cape. They drove to Cape Town to support the family following Anni's death.

Preyen Dewani

Preyen and Shrien both went to the prestigious, 500-year-old Bristol Grammar School in their home town. Preyen then studied law at Oxford University in the UK, before taking a job at Andersen Consulting.
He later joined the family business as the managing director. When Shrien came on board in 2005 to manage the finances and operations of the business, the brothers reportedly increased PSP Healthcare's revenue by £3 million in 18 months.

Preyen has attended many of Shrien's extradition hearings in the Belmarsh Magistrate's Court. He was the first to speak out about his brothers battle with Post Traumatic Stress Disorder (PTSD).

www.psphealthcare.com/

[Mr Moderator]

It is very noticeable that all reference to the Dewani family has been removed from the PSP Healthcare Ltd website.  About us

Could it be that the murder of Anni Hindochas (Dewani) is bad for business? 



Location of 6 care homes currently owned by the Dewani family in the southwest.

www.psphealthcare.com/care-homes/

[Anna]

Thankyou, that is very interesting indeed.

[John]

news24
12 December 2010

City Press asked Rob Theunissen, forensic auditor at the Independent Regulatory Board for Auditors, to analyse PSP’s accounts and give his opinion on the company’s financial health.

'Tenuous'

Looking at the abbreviated audited accounts submitted to the UK’s Companies House, Theunissen said the financial position of the company was “tenuous”.

“What is evident is that PSP was being financed by group undertakings.

"Notes to the accounts reflect that borrowing from group undertakings increased by £1.7m (about R18m) during the year, to £2.8m. This is a large increase in the context of annual turnover being slightly above £8m and the company achieving an operating loss for the year of £575 841.”

PSP’s liabilities exceeded its assets at January 31 2010 by more than £2m (compared to £1.2m for 2009) and the company’s financial position worsened during the year, incurring a loss of £744 004.

According to the directors’ report, they are “confident about the continuing financial performance of the business and continue to review opportunities provided through PK Holdings and others”.

Tax haven

“This statement is rather meaningless but could merely be badly worded,” said Theunissen.

Curiously, PK Holdings and at least two other companies PSP borrowed money from are registered in Guernsey. The group of islands, in British jurisdiction, has been called a “stinking tax haven” which provides high levels of secrecy for shareholders.

Two of the Guernsey companies PSP borrowed money from – Heanton Holdings and PSP Care Villages – submitted written waiver resolutions to Guernsey’s registrar of companies, exempting them from having their accounts audited.

The directors and owners of these companies are unknown and the only names associated with them are those of administrators in the tax haven.

www.news24.com/SouthAfrica/News/Shrien-dewanis-business-has-cash-problems-20101212

[John]

The Dewani family have progressively removed all financial interest which Shrien may have had in the group companies in an attempt to mitigate his financial liability should he be convicted of murder.  Clearly, the delay in bringing him to trial had other fringe benefits.