High Court finds in favour of Joe Singh Group on Lahleni Matter

Posted On Wednesday, 26 February 2020 19:43 Published by
Rate this item
(0 votes)

The Joe Singh Group, which acquired One Vision (Pty) Ltd in 2013, today announced that the High Court has ruled in its favour regarding the Lahleni Lakes Golf Estate case brought by Mr Singh against former One Vision director, Mr Ralston Smith.

High Court Finds in Favour of Joe Singh Group on Lahleni Matter

Mr Singh instituted the legal action to counter Smith’s unsubstantiated claims against Mr Singh in relation to the acquisition and controlling interests of the Lahleni Lakes project. 

The Lahleni Lake project was in severe financial distress when Mr. Singh offered to buy out all shareholders of the company.  His terms included that all company directors resign, leaving himself as sole director of One Vision with full ownership of the project. 

In the case, which has been ongoing since 2014, Smith insisted that he did not resign from One Vision.  He further claimed that Mr. Singh had fraudulently removed his directorship and usurped control of the company.

Mr. Singh, through One Vision, took Smith to court in order to declare the Memorandum of Understanding entered into between himself and all the directors of Lahleni Lakes (One Vision) lawful and binding. Mr Smith opposed the action, but  the court ultimately ruled in favour of Mr Singh.

“I am a firm believer in the fact that the truth always wins through,” says Joe Singh, Chief Executive and founder of The Joe Singh Group.

“While it has been deeply distressing to have someone so frivolously attempt to defame my character, I entered into this transaction with the stated intention of ensuring that financial stability of Lahleni Lakes Golf Estate be rehabilitated and the true potential of the development be realised. That continues to be my focus and I am thrilled that the High Court has ratified my position. 

I am also grateful to my business peers and friends who have stood by me during this long and concerted effort to undermine both my person and my business.”

Last modified on Wednesday, 26 February 2020 19:49

Most Popular

Balwin's Munyaka registers record R850 million in opening weekend sales, selling 555 apartments

Mar 09, 2020
Steve_Brookes_Balwin_Properties
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Balwin Properties and ABSA launch South Africa’s first green home loan

Mar 13, 2020
Apartment 71933
JSE-listed Balwin Properties Limited (Balwin Properties or the Company) and Absa Group…

Growthpoint reports a steady first half with its growth strategies paying dividends

Mar 11, 2020
Growthpoint Properties Group CEO Norbert Sassee
Growthpoint Properties (JSE: GRT) reported distributable income growth of 2.2% to R3.2bn,…

Spear REIT launches innovative self-isolation campaign for returning travellers in Cape Town, South Africa to combat COVID-19:

Mar 18, 2020
Double Tree Op
JSE listed Spear REIT Limited, the owner of the Double Tree by Hilton Cape Town, is the…

Financial Fitness – Is this the right time to buy property?

Mar 20, 2020
Governor Lesetja Kganyago SARB1
With the South African Reserve Bank’s announcement of interest rates cut of 100 basis…

Please publish modules in offcanvas position.