RATIONAL INVESTMENTS (PVT) LTD
IN THE HIGH COURT OF ZIMBABWE
BULAWAYO 11 NOVEMBER 2017 & 3 MAY 2018
B. Masamvu for applicant
I. Mafirakureva for respondents
TAKUVA J: The late M. C. Ncube and Pilate Mabhena representing the applicant were shareholders in the applicant in the following ratio 70% of shares were held by Pilate Mabhena while M.C. Ncube held 30%. Upon the death of M.C. Ncube, his estate was registered and the respondents were beneficiaries in that estate. The 1st respondent was chosen by his family to be a director of the applicant so as to safeguard their interests in the company. The parties faced some operational difficulties pending the winding up of the Estate Late M.C. Ncube. It was then agreed to get a new shelf company to run the affairs of the applicant until the estate had been paid up. A company called Grief Doctor started running the affairs of Falakhe Funeral Parlour [Falakhe]. Prior to this, the applicant was running the affairs of Falakhe Funeral Parlour.
Subsequently, the parties agreed that respondents be paid US$11 500,00 being Estate M.C. Ncube’s value for 30% shareholding in terms of the first and final distribution account. The applicant and Estate Late M.C. Ncube (represented by Ester Kelly Moyo of Moshel Executors & Trust (Pvt) Ltd) obtained a court order by consent in the following terms: