HARARE – A 70-year-old man from Mutare appeared in court on Friday accused of fraudulently altering company ownership documents to seize control of family-run Shingadia Furniture Mart (Pvt) Ltd.
Kumar Natwar Shingadia, who is both a shareholder and director of the company, appeared before Harare magistrate Marewanazvo Gofa facing charges of fraud and theft of trust property. He was remanded to 27 August 2025.
The complainant is his nephew, Bhavick Baccol Shingadia, who is the executor of his late father Bacool Rajsihn Shingadia’s estate. The late Bacool held 29,800 of the company’s 100,000 ordinary shares, while another relative, Vanraj Karson Shingadia, held 300 shares.
According to the State, Kumar Natwar allegedly forged special board resolutions in February 2022 to inflate the company’s authorised share capital from 100,000 to 400,000 shares. He then allocated himself 280,000 of the newly created shares.
Prosecutors say he submitted the forged resolutions to Danford Mavhunga, instructing him to register the changes with the Registrar of Companies and to remove the late Bacool and Vanraj Karson as shareholders and directors.
Kumar Natwar is also accused of collecting rental proceeds amounting to US$200,000 from company-owned property and failing to remit the funds to rightful beneficiaries.
