A petition seeking to protect both the assets of Mumias Sugar Company Limited (in receivership) and the all-important Mumias Sugar Scheme from vulture investors has been filed in court.
Among others, the petition seeks the removal of the conflicted Mr Ponangipalli Venkata Ramana Rao as the Receiver Manager of Mumias Sugar Company and to compel the National Treasury to revive the company.
Mr. Rao was recently exposed as being heavily conflicted by the recent saga where in the so-called bidding by private treaty to identify a strategic investor to revive the sugar giant which was mismanaged to its knees, he invited his cronies who have no capacity for the task .
Further, he was exposed that, while serving as the Receiver Manager of Kwale Sugar Company, he sold scrap metal to Devki Steel Millers Ltd., the very company which recently mounted major public relations offensive in the media designed to create the impression that the Receiver Manager had recruited it as the strategic investor to revive Mumias Sugar Company, and that it was going to invest some Kshs 5 billion in the venture.
It was filed by Human Rights Activist Okiya Omtatah on June 18,2021
“The Treasury cannot fold its hands and watch as unscrupulous individuals seek to profiteer from the woes facing Mumias Sugar Company Limited, which was setup to implement the Mumias Sugar Scheme and sits on public land that was leased from local landowner for 33 years since 1 February 1968 to 31 January 2001,”Says Omntatah.
Court has directed him to file and serve the respondent with petition documents.
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