The Companies and Intellectual Properties Commission (CIPC) says it is very concerned about the Denel chairman’s refusal to respond to its request for clarity on claims of possible contraventions of the Companies Act. The commission, which is responsible for monitoring adherence to the Companies Act, said it had been trying to engage with Denel chairman Lungisani Mantsha since June about media-based allegations relating to the handling of confidential company information. The information is believed to be related to the establishment of a partnership between the Guptas and Denel aimed at the Asian market. If Mantsha is found guilty of contravening the Companies Act he could face time in prison.
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