Sandile Majali was arrested by the SAPS Commercial Crimes Unit on Thursday afternoon for alleged fraud. This followed an investigation after the directorship of mining company Kalahari Resources was changed from Brian Amos Mashile and his sister Daphne Mashile-Nkosi to a group of eight individuals including Majali, the unit said in a statement. Majali and seven others allegedly removed Kalahari Resources' directors from the Companies and Intellectual Property Registration Office (Cipro) database in August.
An urgent interdict was brought before the High Court in Johannesburg last month. The court ruled that Cipro reinstate the siblings as directors of the company. Reacting to the news of the arrest, Mashile-Nkosi told Sapa that she was relieved. “I feel exonerated and energised that the criminal justice system in my country is working - it may be slow but the wheels of justice are beginning to move ... now it's for the court to decide.”
Kalahari Resources owns a 40 percent stake in Kalagadi Manganese, the mining company developing an R11-billion manganese mine and sinter plant in the Northern Cape, as well as a smelter at Coega. The Industrial Development Corporation owns 10 percent of Kalagadi Manganese, while steel producer ArcelorMittal owns the remaining 50 percent stake. Majali came into the public eye following his role in the so-called Oilgate saga that saw him “donate” R11-million of PetroSA's funds to the ANC ahead of the 2004 elections. According to a police spokeswoman who did not wish to be named, four members of the group - including Majali - have been arrested and police were “hot on the heels” of the other four. “The arrests have been a collaboration between the police, the Hawks and a private investigator appointed by Kalahari Resources.”
The spokesperson said the four would appear in court on Friday but could not supply further details.
Source: IoL
Showing posts with label Kalahari Resources. Show all posts
Showing posts with label Kalahari Resources. Show all posts
Thursday, October 21, 2010
Monday, September 6, 2010
Court orders Cipro to reinstate Kalahari directors
The South High Court on Thursday ordered the Companies and Intellectual Property Registration Office (Cipro) to replace the names of the eight people that "highjacked" Kalahari Resources, with that of the original two directors Daphne Mashile-Nkosi and Brian Mashile.
On September 8, Kalahari Resources had to approach the High Court with an urgent application to reinstate the two directors, after it discovered that the directors had been replaced by Sandile Majali and seven other people on August 27. Mashile-Nkosi's lawyer Deon Lambert said that the court accepted the case as urgent and also ruled that legal costs had to be covered by the respondents.
Meanwhile, Cipro said at a media briefing in Pretoria that it had beefed up its security process relating to changes of company directorships on its system. Cipro acting CEO Lungile Dukwana said that the agency could not take responsibility for people that acted fraudulently on its system, but that it would nevertheless constantly aim to improve its security.
He explained that starting in October, the agency would provide companies with another password that would be required to implement a change of directorship. Further, a written mandate from the company's CEO or MD would be needed as part of the submission process, and a certified copy of the person's ID would be required, while the company secretary and directors would immediately be alerted if any changes take place.
It has emerged that changes to the Kalahari Resources directors were made electronically on August 27, by Harlambos Sferopoulos. He was tracked through the agency's customer verification process, which was introduced early last year. Sferopoulous replaced the two founding directors of Kalahari Resources with himself, Majali, Stephen Khoza, Elvis Ndala, Maria Carter, Roberto Rizzo, Nothando Nkosi and Dlamini Welhencia.
Dukwana said that Sferopoulos' authority to operate on the Cipro system had been revoked. Cipro has also suspended the electronic change of directorship in the short term.
Source: Polity
On September 8, Kalahari Resources had to approach the High Court with an urgent application to reinstate the two directors, after it discovered that the directors had been replaced by Sandile Majali and seven other people on August 27. Mashile-Nkosi's lawyer Deon Lambert said that the court accepted the case as urgent and also ruled that legal costs had to be covered by the respondents.
Meanwhile, Cipro said at a media briefing in Pretoria that it had beefed up its security process relating to changes of company directorships on its system. Cipro acting CEO Lungile Dukwana said that the agency could not take responsibility for people that acted fraudulently on its system, but that it would nevertheless constantly aim to improve its security.
He explained that starting in October, the agency would provide companies with another password that would be required to implement a change of directorship. Further, a written mandate from the company's CEO or MD would be needed as part of the submission process, and a certified copy of the person's ID would be required, while the company secretary and directors would immediately be alerted if any changes take place.
It has emerged that changes to the Kalahari Resources directors were made electronically on August 27, by Harlambos Sferopoulos. He was tracked through the agency's customer verification process, which was introduced early last year. Sferopoulous replaced the two founding directors of Kalahari Resources with himself, Majali, Stephen Khoza, Elvis Ndala, Maria Carter, Roberto Rizzo, Nothando Nkosi and Dlamini Welhencia.
Dukwana said that Sferopoulos' authority to operate on the Cipro system had been revoked. Cipro has also suspended the electronic change of directorship in the short term.
Source: Polity
Subscribe to:
Posts (Atom)