Mr. Ramachandran Ottapathu, the suspended Choppies Enterprises chief executive officer has denied any wrongdoing and has vowed to challenge his ouster in court. He was responding to the company after it criticised him in Stock Exchange News Services (Sens) announcements in Botswana and South Africa on Monday. Choppies claimed that Ottapathu’s suspension was “valid and proper” and related to a collection of activities and conduct by him.
Ottapathu was suspended last month by the retail group over accusations of financial variances. The group has said that it intends to first complete investigations which are already underway and in due course reveal to shareholders why Ottapathu was suspended. Mr. Ottapathu said:
This is simple character assassination, which does not give me a chance to defend myself. I was suspended without notice and without a hearing.
I deny the insinuations and allegations that I have done anything wrong. I have said repeatedly that I have not been involved in material wrongdoing or that I benefited financially from any of the transactions, which have now been under investigation since our shares were suspended almost a year ago.
I am going to challenge my suspension in court at the soonest opportunity — as I do not believe it is justified or that it was done in a manner, which was valid or proper.
Early this year, vice president Phelekezela Mphoko’s family pulled out of the Botswana-listed giant retail firm as a result of Boardroom wars.
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