Choppies charged for delays beyond their control

Friday, February 19, 2021

Delays beyond their control that led to Choppies Enterprises Limited suspension from stock exchange in 2018 resulted in the company being fined a maximum of P100, 000 by Botswana Accountancy Oversight Authority (BAOA).

After the dereliction of duty, Choppies Chief Executive Officer (CEO) Ramachandran Ottapathu and founder Farouk Ismail demanded P450 million from PricewaterCoopers Botswana, blaming the auditors for alleged lapses that led to shop’s suspension from stock exchange in 2018 and a collapse in value.

Ottapathu and Ismail in their lawsuit filed in Court last year claimed PwC and its partner, Rudi Binedell breached the audit agreement they signed in 2018 and in the process made the shop lose millions.

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