News / National
Blacklisted company dragged to court over proceeds
06 Aug 2024 at 11:16hrs | Views
Melomack Holdings, recently blacklisted by the government for inflating tender figures, is now facing legal action from its partners, Hutire Construction and Hasmo Global (Pvt) Ltd, for failing to distribute tender proceeds.
Represented by Tinashe Zinto, the partners have filed a lawsuit demanding their share of the profits from a joint venture agreement with Melomack Holdings. The agreement involved bidding and winning a tender for producing and delivering workstations to the Zimbabwe Revenue Authority, with Melomack Holdings acting as the tendering agent.
The partners contributed $9,600 for production costs and agreed that Melomack Holdings would receive a 2.5% sales commission from the $48,400 net profit. Despite the total tender amount of $58,000 being paid, Melomack Holdings is accused of unlawfully withholding the partners' share of $16,133 each.
The partners claim that Melomack Holdings has been evasive and has made it difficult for them to continue in business. They are demanding their total profit share of $32,266 or its equivalent at the official rate, to be paid within 48 hours of the court's order.
Represented by Tinashe Zinto, the partners have filed a lawsuit demanding their share of the profits from a joint venture agreement with Melomack Holdings. The agreement involved bidding and winning a tender for producing and delivering workstations to the Zimbabwe Revenue Authority, with Melomack Holdings acting as the tendering agent.
The partners contributed $9,600 for production costs and agreed that Melomack Holdings would receive a 2.5% sales commission from the $48,400 net profit. Despite the total tender amount of $58,000 being paid, Melomack Holdings is accused of unlawfully withholding the partners' share of $16,133 each.
The partners claim that Melomack Holdings has been evasive and has made it difficult for them to continue in business. They are demanding their total profit share of $32,266 or its equivalent at the official rate, to be paid within 48 hours of the court's order.
Source - newsday
