HIGH COURT STOPS RAM’S ENRICHEMENT PLOT

GABORONE 6 September 2018,Botswana Vice President and acting President SlumberTsogwane officiate the opening of the Bank Gaborone head office at the Gaborone Business District (CBD) in Gaborone on 6 September 2018. Bank Gaborone Managing Director Sybrand Coetzee lead a guided tour of the building after opening the Head Office. Choppies chief executive officer Ramachandran Ottapathu during the ceremony. (Pic:MONIRUL BHUIYAN/PRESS PHOTO)

Tells Ram to return shares of nine companies he held as debt security

Ram has been claiming the companies owed him

Ram held the shares in his name although they were meant for Choppies

The Lobatse High Court has directed Ramachandran Ottapathu, better known as Ram, to return 50 percent of the shares he received from nine companies on behalf of Choppies in 2015, The Business Weekly & Review has established. Ram had received the shareholding in each of the companies Sharpview, Lesney, Hesburger, Shinestar Lane, Hypetie, City Lab, Silverlight, and Tiger Square as security for the companies and its shareholders’ indebtedness to him.  

The court ruled in favour of Mahomed Malique, Sujeewa Jayalathge, Cornelis Kok, Anthony Pillai, Modiyaselagae and ordered Ram to pay costs of the case. 

The plaintiffs had instituted an action against Ram and Choppies Distribution Centre as first and second defendant respectively for the re-transfer of shares in various companies owned by the plaintiffs which