NASH Paints Group chief executive and award winning businessman Tinashe Mutarisi is embroiled in a legal wrangle with Mining Industry Pension Fund (MIPF) over US$27,000 rental arrears, Zim Morning Post can report.
MIPF claims that one of Mutarisi’s companies Nash Furnishers, owes the pension fund US$27, 000 in breach of a lease agreement for a shop located at Takura House, Harare.
According to court papers seen by Zim Morning Post and dated March 17, Mutarisi signed a lease agreement on January 24 2019, through his company Penmen Investments.
“Payment of the sum of US$27,000 being rental arrears owed by 1st defendant for the use of premises being Shop 2, Takura House 67 Nkwame Nkurunh Avenue, leased to it by the Plaintiff in terms of a lease agreement signed by the parties on November 24 2019,” read part of the claim.
“Payment of interest on the US$27 000 calculated from March 2020 at a rate equivalent to the minimum lending rate charged by the Plaintiff’s bankers compounded monthly from due date of rent,” it further reads.
Zim Morning Post understands that MIPF unilaterally made an upward review of the rentals and demanded that Mutarisi pay a backdated amount of the revised fee.
The businessman then disputed this arrangement leading to the matter spilling to the courts.
Mutarisi is a versatile businessman with interest in diverse areas including manufacturing and has also invested in multimedia and entertainment.
He took over Coloursel Furnishers and established Nash Furnitures after the owner Tich Mharadze resumed his mining operations in Mashonaland West.