BETTA PARTS GOODS GO UNDER THE HAMMER

MBABANE – An angry vendor stresses a point during a misunderstanding between vendors and 4Him security personnel while a police officer intervenes at the Fourways Complex yesterday.

MBABANE – A deputy sheriff will next week Friday sell by public auction property belonging to Betta Parts.

The property was attached in respect of a loan amounting to E2.3 million owed by the business entity to Nedbank Swaziland Limited.
The sale comes after the High Court issued an order directing a deputy sheriff to attach and take into execution the movable goods of the company.

The court also ordered the deputy sheriff to further sell the items to recover the money owed by the company to the bank.
Through its attorney, the company (Betta Parts) tried to move an application to stop the attachment and removal of the goods but it was dismissed by the High Court.

Deputy Sheriff Nkosingiphile Dlamini has since placed a notice of sale in the local newspapers.
According to the notice, the auction would be conducted at Bayabonga Building in Mbabane on October 17, 2014.

“Notice is hereby given that pursuant to a writ of execution issued in the above matter, the under mentioned property will be sold by public auction by a deputy sheriff for the district of Hhohho,” reads part of the notice of sale.

Documents

According to court documents, on June 24, 2014, Abdullah Ebrahim Sindhi, ICH Data Systems (Pty) Ltd, trading as Betta Parts, together with MNS Investments (Pty) Ltd, were served with summons by a deputy sheriff acting on an instruction of Nedbank Swaziland Limited attorneys.

Sindhi, upon receipt of the copy of the summons, approached Nedbank Swaziland Limited with the intention of resolving the matter amicably and he was advised by the bank not to file responding papers in court but instead sign an acknowledgement of debt.

“It was part of the acknowledgement of debt that ICH. Data Systems (Pty) Ltd, trading as Betta Parts, MNS Investments (Pty) Ltd, Abdullah Ebrahim Sindhi and Fatima Sindhi concurred that they were indebted to Nedbank Swaziland Limited to a sum of E 2 375 397.50,” the papers read.

Sindhi further stated that it was part of the acknowledgement of debt that the aforegoing amount be liquidated by making a payment of E200 000 on July 15, 2014.
He also stated that it had been agreed that a sum of E44 221.35 would be paid monthly to the bank.

Debt

 “I humbly submit that I duly signed the acknowledgement of debt as per the advice of the bank and a signed copy was registered and made an order of the High Court on July 4, 2014,” he said. 

As per the acknowledgement of debt it was agreed that should Betta Parts, together with its directors, default in the performance of its obligations, the full balance outstanding in terms of the agreement would immediately become due and payable.

The bank would, in addition to other rights, which it may have in law, be entitled to enforce the provisions of this acknowledgement of debt and agreement to pay.

It was also stipulated in the agreement between the business entity and the bank that the plaintiff would be entitled to recover in addition to all the amounts owed, all costs disbursed by it to its attorneys in securing Betta Parts and its directors compliance.

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