News / National
CAPS boss sues Zimbabwe government
12 May 2015 at 10:17hrs | Views
Businessman and one of CAPS Holdings and CAPS International Limited shareholders Fredrick Charles Mutanda has dragged the Republic of Zimbabwe, CBZ Bank Limited, FBC Bank Limited and the Sheriff of the High Court to the Constitutional Court seeking compensation for loss of business and international reputation.
In his bulky founding affidavit lodged at the highest court in the land, he says he lost more than US$1.5 billion.
Mutanda raises several constitutional issues which include an allegation that the Republic of Zimbabwe violated the doctrine of separation of powers and of judicial independence.
He contends that the government established a cabinet committee on CAPS which recommended that government through IDC should save CAPS from collapse by taking over its debt.
He says this was a violation by the government through its agents to expropriate CAPS.
Mutanda also says he was inhumanely treated during his illegal incarceration and alleges that his right to personal security was violated on 4 occasions since 2011.
He further accuses the anti-graft body of seizing US$50 million worth in his family assets and CAPS International Limited property in South Africa, and CBZ and FBC banks of seizing CAPS group properties worth several millions of dollars and over US$1.5 billion in product registration for pharmaceutical products and intellectual property.
He seeks a determination of the law regarding the interpretation of the exchange control regulations of 1996, the Medicines and Allied Substances Control Act chapter 15;03 and the Patents Act chapter 26;03 regarding the issuing and amending of registration certificates for Zimbabwe.
Mutanda further seeks the court's intervention in cancelling the requests for mutual legal assistance to the governments of Botswana, Mocambique, South Africa, Spain, and Liechteinstein, including clearance on allegations of theft of drug formulas worth US$25 million.
He seeks determination of the conduct of the Zimbabwe Anti-Corruption Commission as regards his malicious prosecution, and on the unlawful seizure, expropriation and destruction of properties by CBZ and FBC banks.
In his bulky founding affidavit lodged at the highest court in the land, he says he lost more than US$1.5 billion.
Mutanda raises several constitutional issues which include an allegation that the Republic of Zimbabwe violated the doctrine of separation of powers and of judicial independence.
He contends that the government established a cabinet committee on CAPS which recommended that government through IDC should save CAPS from collapse by taking over its debt.
He says this was a violation by the government through its agents to expropriate CAPS.
He further accuses the anti-graft body of seizing US$50 million worth in his family assets and CAPS International Limited property in South Africa, and CBZ and FBC banks of seizing CAPS group properties worth several millions of dollars and over US$1.5 billion in product registration for pharmaceutical products and intellectual property.
He seeks a determination of the law regarding the interpretation of the exchange control regulations of 1996, the Medicines and Allied Substances Control Act chapter 15;03 and the Patents Act chapter 26;03 regarding the issuing and amending of registration certificates for Zimbabwe.
Mutanda further seeks the court's intervention in cancelling the requests for mutual legal assistance to the governments of Botswana, Mocambique, South Africa, Spain, and Liechteinstein, including clearance on allegations of theft of drug formulas worth US$25 million.
He seeks determination of the conduct of the Zimbabwe Anti-Corruption Commission as regards his malicious prosecution, and on the unlawful seizure, expropriation and destruction of properties by CBZ and FBC banks.
Source - zbc
