Neotel bosses 'breached their authority' on Transnet contract.
Deloitte auditor Chetan Vaghela told the state capture inquiry that his company was 'highly sceptical' about the Homix transaction.Deloitte auditor Chetan Vaghela told the state capture inquiry on Tuesday that an investigation had found that Neotel bosses had breached their authority and did not act in the best interests of the company when they paid Gupta-linked letterbox firm Homix to secure a lucrative Transnet contract.
The commission previously heard evidence about how Transnet was a"captive client" and had no choice but to contract Neotel in 2014, but surprisingly withdrew from ongoing negotiations without giving reasons, leaving Neotel desperate to close the deal.Just a day after Neotel signed with Homix, Transnet returned to the negotiating table and Neotel got the contract.
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R36m fee paid to Gupta-linked firm left auditors scratching their headsDeloitte auditor Chetan Vaghela told the state capture inquiry on Tuesday that an investigation found Neotel bosses breached their authority and did not act in the best interests of the company when they paid Gupta-linked letterbox firm Homix to secure a lucrative Transnet contract.
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DAYS OF ZONDO: Homix, a Neotel kickback, and the relentless auditorsNeither the Neotel board nor the company’s lawyers, Norton Rose, neither its chief financial officer nor its chief executive, were able to explain to auditors Deloitte South Africa what exactly the Gupta-linked letterbox company, Homix, had done to rake in a R36-million ‘success fee’ on the back of a Transnet deal.
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Inquiry hears Neotel paid millions to Gupta-linked 'mystery' company | IOL NewsNeotel paid Gupta-linked letterbox company Homix R41m for facilitating a R1.8bn Transnet contract yet its top executives ...
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Inquiry hears Neotel paid millions to Gupta-linked 'mystery' company | IOL NewsNeotel paid Gupta-linked letterbox company Homix R41m for facilitating a R1.8bn Transnet contract yet its top executives ...
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DAYS OF ZONDO: Homix, a Neotel kickback, and the relentless auditorsNeither the Neotel board nor the company’s lawyers, Norton Rose, neither its chief financial officer nor its chief executive, were able to explain to auditors Deloitte South Africa what exactly the Gupta-linked letterbox company, Homix, had done to rake in a R36-million ‘success fee’ on the back of a Transnet deal.
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WATCH LIVE | State capture: former Transnet information officer testifiesThe Zondo commission will hear testimony from former Transnet group chief information officer Makano Muriel Mosidi on Monday.
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