Shaik still a company director

2011-03-27 12:03

Johannesburg - Convicted fraudster Schabir Shaik is still listed as a director of a company that was involved in SA's arms deal, despite this being in contravention of the Companies Act, the Sunday Times reported.

He is listed as a director of KobiProp, previously a subsidiary of the Nkobi Group, which was fined for corruption during Shaik's fraud and corruption trial, which ended in 2005.

According to the Companies Act someone found guilty of theft, fraud, forgery, uttering a forged document or corruption cannot hold a directorship.

Shaik is the sole "active" director of KobiProp, according to the Companies and Intellectual Property Registration Office.

"As far as I am concerned I had signed all the necessary company resignation documents and would have expected that between the company's internal accountants and auditors, this secretarial matter would have been resolved," Shaik was quoted saying.

Shaik's lawyer Reeves Parsee told the Sunday Times: "He (Shaik) said he had given his accountants instructions to resign himself from KobiProp. He doesn't know why this hasn't been reflected."

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
Read more on:    schabir shaik  |  corruption
NEXT ON NEWS24X publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Rugby World Cup 2015

All the action from the 2015 RWC, including live coverage of all 48 matches, breaking news, fixtures, results, logs - and much more!


Rugby World Cup 2015

Boks to slay Dragons, predicts Carling
Walker called up to face SA
WATCH: Namibia prop bows out with humorous kick!
VIDEO: 'British media were raving about Lood, Eben'
Traffic Alerts

You may find it hard to focus on the mundane routines as the greener pastures seem so tempting. It is a good time to expand more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.