MORE INVESTORS WANT REFUND FROM ON TIME

MBABANE – The High Court continues to be flooded with applications from people who invested their monies into On time Investments (PTY) Limited.

This is the company whose offices were recently stormed by over 100 people demanding answers, after being told it had severed its business relationship with them. Among those who invested are civil servants, former politicians, businesspeople, pensioners and individuals. So far there are about five applications filed by ‘investors’ who are now demanding a refund of the monies they invested plus interest. The latest application against the company has been by Zwelithini Mndzebele of Manzini,who claimed to have invested a sum of E143 750.
Mndzebele informed the court that he entered into an agreement with the company.

He alleged that it was the material term of the agreement that the company would lease 10 photocopying machines to third parties for rental and in return pay him a sum of E12 500 per month per machine for a period of 48 months. According to Mndzebele, the intended lease/rental agreement was to commence on June 6, 2019 and expire on June 6, 2023. He informed the court that in compliance with the agreement, he paid a total sum of E143 750 to the defendant’s (company) bank account on June 6, 2019 and was issued with a receipt. “In breach of the agreement, the defendant has not paid the plaintiff (Mndzebele) the monthly sum of E12 500 for the months of September and October 2019,” reads part of Mndzebele’s particulars of claim.

Refund

He averred that in the premise, the defendant was liable to him for the rentals for September and October 2019 in the sum of E25 000, plus the sum of E143 750 being a refund of the money invested plus interest. Another investor who is demanding his money back is Sibusiso Sabelo Dlamini. Dlamini is demanding payment of E158 125 from the company. Meanwhile, last week Principal Judge Qinisile Mabuza issued an order to freeze bank accounts belonging to Sukke On time Investments (PTY) Limited. The interim order by the principal judge came after one of the aggrieved clients of the company, through his attorney Linda Dlamini, moved an urgent application at the High Court.

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