International businessman Yoogaysun ‘Nilesh’ Seebundhun, who was served with an interim suspension of his Assistant Trainer licence by the National Horseracing Authority of South Africa on Friday afternoon, has spoken out about what appears to be mostly a misunderstanding based on a potential lack of communication and bureaucratic red-tape challenges.
The South African racing regulator confirmed on Friday that an interim suspension had been imposed upon Assistant Trainer Mr Y Seebundhun in terms of the provisions of Rule 91.2, pending an Inquiry into inter alia the alleged non-compliance of the terms of his conditions of his Assistant Trainer’s Licence, coupled with an investigation of the content of a video clip disseminated by Mr Y Seebundhun.
The media release led to a flurry of queries from the racing public, as many, including this platform, had not known about Mr Seebunhun, who has owned horses here for some years.
Yoogaysun ‘Nilesh’ Seebundhun – keen to move on and willing to co-operate (Pic – Supplied)
Mr Seebundhun, a Chartered Accountant, who carries the letters BSC, ACCA, MIPA behind his name, is a financial specialist with 23 years of experience in investments.
He is ACCA qualified, a Member of the Mauritius Institute of Professional Accountants and a multiple resident of Mauritius, South Africa and Dubai.
Speaking to the Sporting Post on Saturday morning from Mauritius, Mr Seebundhun informs us that he is a registered Assistant Trainer in Mauritius and has owned horses in South Africa for some years. His local trainers are Piet Botha and MJ Odendaal.
With the turnaround in South African racing and the improved prospects here in the Cape and KZN, he decided to establish a syndicate, Galloping Equine, with the goal of creating a unique racing experience. The aim is to start with 20 members and grow it to 100.
He started the ball rolling by applying for an Assistant Trainer’s licence here and was granted same, on the proviso that he would do his ‘apprenticeship’ with Piet Botha at Milnerton.
“I submitted both the AT1 and AT2 forms as part of my application. I am fully aware and this has been stated in the AT2 form itself, that I require NHRA approval prior to entering into any employment contract. However, I was not made aware that an approved work permit was a prerequisite for obtaining an Assistant Trainer license. Had this been clearly communicated to me during the Assistant Trainer’s License approval process, I would have ensured full compliance beforehand,” he adds.
The National Horseracing Authority’s concerns apparently lie in part with the fact that Mr Seebundhun only attended stables a few times up to the end of February.
Mr Seebundhun told the Sporting Post that his absence was purely as a result of the delays in the approval process of his work permit.
“The initial application for the work permit was unfortunately declined by the South African Embassy here in Mauritius, owing to the absence of CIPC registration documents from Piet Botha, under whom I was initially supposed to work. Given that I have horses in both Cape Town and Durban with M.J. Odendaal, I sought support from the latter, who agreed and provided the necessary CIPC documentation plus all documents regarding a work agreement. A resubmission of my work permit application is scheduled for this coming Monday (19 May), and I have requested that it be fast-tracked.”
The Sporting Post has had sight of the correspondence from the SA High Commission in Port Louis.
The NHA also referenced the promotional video doing the rounds, wherein Mr Seebundhun makes a statement that he will obtain his Trainer’s Licence in a specific time, and also makes claims to offering investors a ‘50% per month return’ on their money.
The video has been removed from all of his social media platforms, and the Sporting Post has had sight of it.
“I am so sorry for any concerns or misinterpretations caused by my recent absence from the trainer’s yard and my appearance in a well intended promotional video for a horse racing syndicate. I fully recognize the importance of adhering to NHRA rules and remain deeply committed to upholding the integrity of the sport and the standards of the Authority,” he added, while asserting that he is more than willing to appear and fully co-operate with an Inquiry at the earliest possible time to clear up any misunderstandings.
We asked Mr Seebundhun about his offer in the promotional video of a suggested 50% return on investor’s capital.
“My structure is such that investors will pay an initial sum of R25 000 plus R1100 per horse, monthly. Based on 20 horses, that totals R47 000. With betting and stakes, and I must point out that I will give the betting advice, and that on place bets only, and not rely on tipsters, investors will get back R23 500 per month. That is the basis of the 50% return.”
Asked if he considered the interim suspension a setback, Mr Seebundhun says that his intentions have always been absolutely professional and in the best of good faith.
“I have a good international reputation and I have confidence that the matter will be resolved so that I may continue contributing positively to the sport. Thank you for taking the time to contact me.”
Equine Galloping’s website is under construction but they are contactable via their Facebook page – Equine Galloping Ltd.
