CAPE TOWN – Sekunjalo Independent Media (SIM) on Tuesday received an application for its liquidation from the Public Investment Corporation (PIC).
Takudzwa Hove, the spokesperson for SIM, said the PIC’s application was frivolous as it appeared to have intentionally omitted certain factual and legal considerations relevant to the matter.
“If it had included it, it would have made its application a nullity,” said Hove. “By virtue of the PIC’s debt-for-shares swop into Sagarmatha Technologies Limited, the PIC no longer has any claim against SIM.”
Dr Iqbal Survé has been cited as a party to the proceedings even though no relief is claimed against him. “The PIC’s application smacks of malice and designed to embarrass the Sekunjalo Group and Dr Survé,” Hove said.
SIM is a subsidiary within the Sekunjalo Group. Its subsidiary, Independent Media, is fully operational and not a party to the liquidation application.