Choppies Enterprise Limited (CEL) founders and majority shareholders, Ramachandran Ottapathu and Farouk Ismail scored a major victory on Wednesday in a legal suit against auditors, PriceWaterhouseCoopers (PWC) and its lead auditor, Rudi Binedell.
On Wednesday, Acting High Court Judge, Justice Boipuso Tshweneyagae ruled for the case to proceed to trial with Ram and Farouk winning the ruling with costs.
The two Choppies Directors have applied to the court to have PWC and Binedell furnish them with further and better particulars.
The high court judge ruled that the defendants shall furnish Ram and Farouk with further particulars on or by 15th December, 2021 as demanded in their application for further and better particulars.
Tshweneyagae ruled that Ram and Farouk shall replicate if they so choose to, by the 20th January 2022.
The initial case management conference is set for the 14th February while final case management will be held on March 22 next year.|
The trial is scheduled from the 9th to 20th May 2022.
Ram and Farouk are demanding P450 million from PWC and its lead auditor, Binedell, accusing them of failing to sign off the Choppies financial accounts well on time ahead of the 30th September deadline.
The Choppies directors allege that the defendants actions led to a drop in value of Choppies shares, leading to Ram and Farouk losing millions as a result.
