Auction to recover debts Indian streaming company owes Enemalta

Enemalta is selling over €458,000 in equipment abandoned by an Indian tech company at a deserted underground chamber in the old Marsa power station.

Enemalta’s action is intended to recover money it is owed by the Indian-owned video streaming business, Streamcast, which closed shop in under a year before paying its dues.

The Indian company was ordered years later by a Maltese court to pay Enemalta €400,000 in contractual dues.

Its technological equipment and other office infrastructure in the Marsa power station chamber will go on sale by court auction to recover part of the monies owed to Enemalta.

Originally the Cloud operator was slated in 2017 to be part of a €75 million secure data centre inside Enemalta’s extensive underground infrastructure at the Marsa site – a project which failed to materialise.

Nimish Pandya’s Streamcast was later found to have built a network of shell companies, which only used its Maltese venture to hike up its value before being sold for €2 million in 2019.

A related, Irish company, Streamcast Technologies Holdings, held a shareholding interest from audit firm Nexia BT partners Brian Tonna, Karl Cini and Manuel Castagna – auditors in the Panama scandal that implicated former energy minister Konrad Mizzi and one-time chief of staff Keith Schembri.

A court had ordered Streamcast, which did not even file a court response, to pay over €422,000 to Enemalta for leasing space at the Marsa power station for a data centre, whose server farm project never materialised. Contractual dues, use of infrastructure and other energy bills and rental payments, were never paid to Enemalta by the company when it departed only a year after commissioning its equipment in 2018.

Enemalta had not invested any money in the project and the data centre costs were the responsibility of Streamcast Technologies. Enemalta’s role was limited to the lease of its property.

Former energy minister Joe Mizzi had declared in parliament that Enemalta had signed its memorandum of understanding in November 2017 with another related company Streamcast Technologies Inc [Delaware] for its local subsidiary, Streamcast Limited.

Streamcast had also been condemned to pay €300,000 to Melita for internet connection fees dating back to the date of its incorporation. Another private company, P&C Limited, was also seeking the enforcement of a promise of sale on an office block in Marsa for €7.2 million.