A REGISTRAR of Companies official yesterday testified at the Harare Magistrates’ Court in a case in which a Harare businesswoman and her son are accused of swindling $460 000 from a local businessman.
BY DESMOND CHINGARANDE
Nighert Parween Savania (62) and her son, Deen Mahendra Jivan Savania (33), allegedly misrepresented and sold a deceased estate, Norwich Trading, to Nathan Mnaba for $380 000. The estate had not been registered with the Master of the High Court.
John Mukumbirirwa, from the Registrar of Companies, told the court that both the suspects and complainant did not submit their company documents since September 2014 and he would not be in a position to know if there was an agreement between the two.
The witness, however, confirmed Mnaba as the shareholder of Norwich Trading.
Mnaba told the court that the formal registration of the company was stalled by the non-registration of the deceased estate by Nighert and Deen.
Allegations against the pair are that after the death of Mahendra on March 9, 2010, Nighert took charge of Norwich Trading’s day-to-day operations but a year later, the duo connived to sell Norwich Trading to Mnaba.
The State alleges they misrepresented to Mnaba that Nighert owned 100% shares in Norwich Trading and that she was the sole beneficiary.
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It is alleged they did not disclose to Mnaba that the company was part of a deceased estate which was yet to be registered with the Master of the High Court for execution.
Nighert also did not disclose that there were other shareholders holding a total of 29% shares.
The State alleges as a result of the misrepresentation, Mnaba agreed to purchase Norwich Trading.
Between August 2011 and January 2012, Mnaba reportedly paid $250 000 to the suspects leaving a balance of $130 000 and also made a capital injection of $210 000 into the business.
After paying for the business, Mnaba proceeded to the Registrar of Companies Office to regularise the purchase and discovered that the two suspects were not shareholders in Norwich Trading and that the company was part of a deceased estate which was still to be registered with the Master of the High Court. As a result of the misrepresentation, Mnaba was prejudiced a total of $460 000.
Venencia Matake appeared for the State.
