Mining mogul nabbed

Herald Reporter
Indian businessman Navneet Goenka, who has mining interests in Zimbabwe, was last week arrested in India for allegedly cheating his brother Nitin of his shares in a company they jointly operate in that country.
Navneet is accused of transferring shares valued over US$1 million from his brother’s account to that of their mother in November.
Interestingly, Navneet has got an almost similar case before the High Court of Zimbabwe after he allegedly transferred Anil Pandey’s shares in a company he operates with some locals to Brigadier General Walter Tapfumaneyi.

Indian police senior inspector Ashok Jagdale was recently quoted in the India press as saying that Navneet obtained the transfer instructions for slips delivery of Nitin’s Demat account and forged his signature on one of the slips. “He used this to carry out the transfer,” said Snr Insp Jagdale. “He again forged Nitin’s signature to create a fake notarised gift deed and release deed with the help of an advocate, Sanatan Tiwari and Nakvi.”

In Zimbabwe, the Goenka brothers and their father Nandlal are embroiled in a shares transfer wrangle with other shareholders in Pure Minerals Zimbabwe.
They went into a partnership with locals Kaitano Mugabe, Washington Musvaire, Patrick Chiwanza, among others.

A wrangle was sparked by the elbowing out of Anil Pandey, who was replaced by Brig-Gen Walter Tapfumaneyi, allegedly without a shareholders’ meeting.
The locals argued that they had not reaped anything from their investment three years down the line, as the books of accounts had never been revealed. They since approached the High Court seeking an order compelling the Goenka brothers to surrender all books of accounts to the local shareholders.