LUDHAM INVESTMENTS (PVT) LTD AND OTHERS v BRIOLETTE SERVICES (PVT) LTD AND OTHERS

HH544/23

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Case Details

Court

Harare High Court

Date

9 October 2023

Citation

HH544/23

Neutral Citation

[2023] ZWHH 544

Outcome

unknown

Case Type

Application

Bench

Presiding

CHIRAWU-MUGOMBA J

Full Bench

CHIRAWU-MUGOMBA J

Areas of Law

Corporate LawCompany LawShare Capital Alteration

Keywords

Share capital increaseSpecial resolutionCompanies ActDeclaratory reliefPrescription

Key Issues

{"issue_text":"Whether the application has prescribed under the Prescription Act","issue_type":"procedural","dispositive":"yes","related_facts":"Timeline of events from 2006 to 2023, participation in dividends"}
{"issue_text":"Whether the answering affidavit was properly filed within the five-day period","issue_type":"procedural","dispositive":"yes","related_facts":"Notice of opposition filed 20 April 2023, answering affidavit filed 5 May 2023"}
{"issue_text":"Whether the cause of action is competent given that company documents have not been set aside","issue_type":"procedural","dispositive":"no","related_facts":"Share register, annual returns, and special resolution not challenged in competent court"}
{"issue_text":"Whether the application is replete with material non-disclosure","issue_type":"procedural","dispositive":"no","related_facts":"Failure to disclose that 17 out of 23 members participated in rights issue"}

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background

Facts of the Case

Background

Applicants sought a declaratur that the registered nominal shares of the 1st respondent total 24,000 shares, challenging an alleged unlawful increase from 24,000 to 47,500 shares in 2006. Respondents opposed on grounds of prescription, lack of authority, and material non-disclosure.

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