Johannesburg - Former Eskom and Transnet chief financial officer Anoj Singh has snubbed the disciplinary hearing convened by the SA Institute of Chartered Accountants (Saica) and will not send a legal representative.
Singh, a chartered accountant, faces 18 charges ranging from gross negligence to dishonesty for years of mismanagement during his tenure at two of the country's largest state-owned companies between 2012 and last year.
Presenting Saica’s case on Wednesday morning, Advocate Hamilton Maenetje told the professional conduct committee that Singh had elected not to attend the hearing and would not be sending a legal representative.
Maenetje said Saica will proceed with the hearing despite Singh’s absence.
Singh also did not provide any written explanation at all in relation to the Transnet charges, which added this year. When called into a meeting he failed to attend and did not send any representation, according to Maenetje.
Singh was also warned that if he did not attend the meeting it would proceed based on the information available. He was provided with the Transnet charge sheet in September and pleaded not guilty in respect of the Eskom charges.
The Transnet charges relate to the R54.5 billion contract to supply the state-owned freight and rail transport company 1064 locomotives when he chaired the locomotives steering committee.
Saica believes Singh abused his position and failed to protect Transnet’s interests and to provide full information to the board or either misrepresented it.
Singh was also key in increasing the 1064 locomotives by R15.9bn and during his tenure as CFO contracts were signed before going through the board.
”Singh played a leading role, a critical role,” said Maenetje, adding that Saica has a right to charge him as a chartered accountant.