R103m PPE tender declared invalid, company ordered to pay back the money

In a statement released by the Special Investigating Unit on Wednesday 29 June, the Special Tribunal has ordered that Zakheni must pay back all profits earned from the unlawful and invalid tender. The Special Tribunal reviewed and set aside the multimillion tender following an application by the Special Investigating Unit .without following regulations governing public procurement., through its Chief Financial Officer , Ms.

Handing down the judgment, Judge President of the Special Tribunal, Lebogang Modiba stated: “The irregular manner in which the contract was awarded constitutes a material infraction to the constitutional values of fairness, transparency, equity, effectiveness and cost-effectiveness. Therefore, it is just and equitable to set aside the contract.

“Zakheni is not entitled to profit from an irregular contract. I find no basis to exercise my discretion to permit Zakheni to benefit from the contract under the present circumstances. It is therefore just and equitable that Zakheni is ordered to account to the Department for the profits it has earned or stands to earn from the impugned contract and to be divested of such profits.”

The company has been ordered to render to the Registrar of the Tribunal and to the SIU, within 30 days, audited financial statements for the financial year covering the period during which the parties performed under the contract, to the extent that the audited financial statements reflect all financial information pertaining to the impugned contract.

What

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Special Tribunal takes back cash from company in Gauteng PPE dealThe Special Tribunal has declared that Zakheni Strategic Supplies be divested of all profit accrued to it under the R21.2m contract it was awarded by the Gauteng department of health for the supply of PPE. These are the people that always saying under Jacob Zuma the country was working well.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Gauteng PPE company ordered to pay back profits made from R103m tender | The CitizenThe company has also been ordered to hand over any financial statements to the SIU.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Zakheni Strategic Supplies ordered to repay all profits earned from an irregular multimillion-rand PPE contract - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Special Tribunal has ordered that a company which was awarded a multimillion-rand PPE tender by the Gauteng Health Department pay back all profits earned from the contract. That's not good enough man😕😖people need to start going to jail ffs... I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to Allison_Grillo, and I gave Bitcoin trading another try, I successfully withdrew $35,000 after two weeks of trading, am so grateful Allison_Grillo thank you.
Source: SABCNews - 🏆 37. / 51 Read more »

Gauteng PPE company ordered to pay back profits made from R103m tender | The CitizenThe company has also been ordered to hand over any financial statements to the SIU.
Source: TheCitizen_News - 🏆 6. / 75 Read more »