Online Reporter
Yeukai Karengezeka-Chisepo
Court Correspondent
THE trial of the headmaster of West Ridge Primary School in Belvedere and his wife, who are accused of fraudulently increasing their shareholding in a family-owned company, has got underway at the Harare Magistrates Court.
Thakorbhai Kanjee (73) and Jaya Kanjee (71) are appearing before Harare magistrate Artwell Sanyatwe, facing fraud charges.
The two are alleged to have unlawfully allotted themselves additional shares in T and J Investments (Pvt) Ltd, without the consent of a fellow director.
The complainant, Neeshta Urmila Patel, testified that she was a director in the company, which owned and leased commercial properties.
She told the court that the accused were her uncle and aunt and were co-directors with her late father, Arvindbhai Bhikubhai Patel.
According to Patel, the company was established on March 27, 1990, with her father holding 20 shares, while Kajee and Kanjee each held 10 shares.
Following her father’s death on March 7, 2015, Patel said she was appointed executor of his estate on July 24, 2015, inheriting his shareholding in the company.
She further testified that on August 16, 2024, the accused presented her with a special resolution proposing that shares be equally distributed among all shareholders.
“I did not sign the document,” Patel told the court.
However, on September 10, 2024, she said she received a Return of Allotments (CR 11) indicating that the accused had each allocated themselves an additional 10 shares.
Patel said she subsequently tried, without success, to access the company file from the Registrar of Companies.
She later filed a police report on March 11, last year, leading to the arrest of the accused on July 14.
Prosecutor Lawrence Gangarahwe alleges that the couple acted in common purpose to defraud Patel.
The State alleges that on August 16, 2024, the two submitted a forged resolution to the Registrar of Companies, purporting it had been approved by all directors, to alter the company’s shareholding structure. Acting on the alleged misrepresentation, the Registrar of Companies processed the changes, resulting in each of the accused gaining an additional 10 shares without Patel’s knowledge or consent.
The State further alleges that the actions prejudiced the proper administration of the company.
The trial continues next Wednesday.
