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Nyore Madzianike Senior Court Reporter
TWO Chinese nationals and a local man appeared at the Harare Magistrates Court on allegations of altering a company registration documentation in a bid to elbow out the late firm owner’s wife, who is also a co-director, from its shareholding.
Zhang Suyi (36), Fan Xinhua (57) and Vengesai Mhlanga (45) denied the fraud charges when they appeared before magistrate Mrs Barbra Mateko, who remanded them in custody to January 18 for trial.
They are alternatively charged with violating the Companies and other Business Entity Act.
The trio are alleged to have altered Jiang Shan Civil Explosives (Pvt) Limited’s registration documents in a bid to elbow out Zhang Bin from its shareholding.
Zhang Bin co-owned Jiang Shan Civil Explosives (Pvt) with her late husband Dong Liu with 26,55 percent and 73,45 percent shareholding respectively.
According to the State, Zhang Bin and her late husband Dong Liu registered their investment with Zimbabwe Investment and Development Agency with foreign acquired capital equipment worth US$ 27 860 000, local assets worth US$510 000 and foreign injection equity of US$350 000 into Jiang Shan Civil Explosive Pvt Ltd.
Zhang Bin and her late husband had 100 percent shares in Jiang Shan Civil Explosive which is documented by the Zimbabwe Investment and Development on licence number 000036 issued on September 29, 2020.
The licence is valid until September 28 this year. Zhang Bin, according to the State, is in possession of share certificates in respect of herself and her late husband.
It is said that Dong Liu did not dispose of his shares to anyone before his death on April 23 last year.
The court heard that Dong Liu 73,45 percent shares in Jiang Shan Civil Explosives are currently registered as part of the deceased estate at the Master of High Court under DR 4624/21.
Allegations against Zhang Suyi, Fan Xinhua and Vengesai Mhlanga are that they connived with Jianchun Wu, who is still at large, and distributed Jiang Shan Civil Explosives shares amongst themselves.
It’s alleged that they altered the CR16 form and went to file it with the Registrar of Companies.
They also allegedly filed a CR6 form in the same company filed and allegedly misrepresented that Hao Xin had resigned from his position as company secretary for Jiang Shan Civil Explosive Pvt Ltd and was to be replaced by Mhlanga.
It is alleged that they appointed Mhlanga in order to facilitate the filing of CR6 forms.
Further allegations are that they fraudulent crafted CR16, CR6 documents and resolutions before they obtained an ex parte court order at Chinhoyi Magistrates Court.
It is said that the Chinhoyi Court order gave them access and control of Jiang Shan Civil Explosive Pvt Ltd’s operations and premises.
They also allegedly had full control of capital assets, which on record belong to Zhang Bin and her late husband.
Irked by the trio’s actions, Zhang Bin went to lodge a complaint with the police leading to their arrest.
Zhang Suyi and Fan Xinhua are also separately appearing in court on charges of violating the Immigration Act.
These charges were laid after they were found with expired visas and temporary permits.
It is alleged that the visa expired on November 10 last year.
Peter Tanyanyiwa
Online Reporter