Ram rubbishes unfair and biased forensic, legal reports
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Legal and forensic reports into Choppies Enterprises Limited, circulated to shareholders via Botswana’s X-News and the Johannesburg Stock Exchange News Service (SENS) are unfair and biased – and appear designed to embarrass him rather than informing shareholders, says suspended CEO, Mr Ramchandran (Ram) Ottapathu.
Mr Ottapathu was responding to a Choppies Enterprises Limited shareholders’ circular ahead of an extraordinary general meeting (EGM) of Choppies shareholders to be held on 4 September 2019. The circular published on X-News and SENS provided summaries of a Legal Report and Forensic Report relating to him. Mr Ottapathu’s version of what really unfolded at the company which he co-founded is contained in a right of reply to the summary responses to the EY Report and Desai Law Group (DLG) Report circulated to shareholders via X-News (Botswana) and SENS (JSE) announcements on 14 August 2019.
Earlier in the year, Mr Ottapathu made some suggestions to the non-executive directors as to changes to the board and structural changes to the company. Thereafter, on 22 May 2019, the non-executive directors, including former Botswana President Festus Mogae, suspended Mr Ottapathu. Mr Ottapathu engaged lawyers in South Africa and Botswana and retained an independent expert forensic accountant to advise him on his response. On this basis, he cautioned shareholders, ahead of the 4 September EGM, not to rely on the reports. He notes that the so-called legal report’s analysis largely clears him and his conduct, but its conclusions drawn by Botswana law firm, Desai Law Group (DLG), condemn him.
“Regrettably there was no attempt by DLG to present a fair and unbiased account in its legal report. Both the Legal Report and its summary (Annexure 1) present a skewed version of events on incorrect assumptions and are flawed. “I caution shareholders not to accept the report at face value,” Mr Ottapathu said. Turning to the so-called Forensic Report, he said its summary (Annexure 2 of the Board’s X-News and SENS announcement) was “a skewed and contrived version of a bland, poorly drafted and largely exculpatory forensic report”. He said inferences which appear to have been drawn in Annexure 2 of the report rely on the flawed Forensic Report which are premature and inconclusive.
“The language and leaps of logic in Annexure 2 appear to have been designed to embarrass Mr Ottapathu instead of focusing on what the Forensic Report actually says.” Like the Legal Report, the Forensic Report took “excessive liberties with its assumptions and its fundamental premises are flawed”. The report’s methodology was flawed and its “credibility is questionable at best”. He adds: “Annexure 2 presents an inaccurate and incorrect summary of the report. In addition, the forensic report fails to verify any of the information it received and failed to resolve any conflicting versions of facts presented to it. Instead, it simply ignored certain facts.
As a result, it cannot credibly resolve any issues relating to the finalisation of the 2018 annual financial statements.”
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Malawi appeals for help over Cyclone Freddy at PAP
As of yesterday evening, the death toll from the Cyclone in Malawi had risen from the initially reported 190 to 225 in a short period of time, over 20 000 people have been displaced, and the worst of fears are yet to come as the fatalities continue to mount. This was reported by a Malawi Member of Parliament attending the Pan African Parliament session in Midrand, South Africa, Hon Steven Mikiya.
Mikiya was giving a statement on behalf of Malawi as the ongoing Pan African Parliament in South Africa.
Mikiya said the Cyclone has wreaked the most havoc in our country’s Southern Region. “The Southern Region, has been hardest hit with widespread heavy rains and strong winds. This caused a rapid rise in water levels and subsequent flooding. Meanwhile, power supply has been disrupted, roads blocked off and rendered impassable and mudslides have also been widely reported,” he said.
He made a special appeal to the PAP: “Where I come from, there is a parable which I would like to share with you which says, “mzako weniweni umamudziwa panthawi ya mavuto.” Simply put, a friend in need is a friend indeed or put loosely, a person who helps at a difficult time is a friend you can rely on.”
Mikiya continued: “Yes! Misfortune has knocked on our door and left in its wake a trail of death and destruction that may take years to fully recover from. However, amidst these difficulties, I have every reason to believe that sometimes when you are in a dark place and think you have been buried, you have actually been planted. My belief, Mr. President, arises out of my faith in this gathering and out of the conviction that it is not coincidental that Cyclone Freddy hit Malawi and Mozambique while the delegations of both countries are here.”
According to Mikiya, the level of destruction, the loss of life, property and the decimation of the entire fabric of established communities has been unprecedented. He noted that all this, is coming at a time when Malawi was starting to show signs of recovery from the deadly COVID-19 pandemic that also came hard on the heels of Cyclone Ana and Cyclone Gombe that left a similar trail of devastation and destruction in Malawi and neighbouring countries.
As of Sunday, this week, from the 12th of March, Malawi and Mozambique have been facing the devastating effects of Cyclone Freddy that made a landfall over Mozambique on Saturday the 11th and reached Malawi by Sunday the 12th of March.
The Malawi legislator said he has absolute faith in the Pan African Parliament, which he described as “a league of nations brought together by a shared ancestry, history, identity as well as our beloved continent which we inhabit”.
Meanwhile, Malawi President, Lazarus Chakwera, has declared a State of Disaster in the affected areas effectively appealing for local and international support for the affected families.
Mikiya appealed to the Pan African Parliament drawing “positive” inspiration from Europe which rallied around Turkey after the destructive earthquakes to bring the much-needed relief and humanitarian aid to the people of Turkey.
He said Africa should demonstrate to the world that the African Union and its Organs are not mere talk shows, but effective institutions which stand up when it matters most.
“Alone, it may take us a lifetime to fully recover, but together, in the Pan-Africanist spirit of Ubuntu, our lives and livelihoods will return to a semblance of normality in record time. This is the time to live by our operative mantra, “One Africa, One Voice.” Mikiya concluded.