Miscommunication is the reason for MST's PIC dispute, inquiry hears

PIC Commissioners Gill Marcus, Lex Mpati, Emmanuel Lediga. Picture: WARREN THOMPSON

Under cross-examination on Wednesday, Rajdhar steadfastly maintained that according to his interpretation of the loan agreement, MST was to manufacture new vehicles with the money.One of the reasons why the transaction has been the subject of such scrutiny is because Pretty Louw, who was accused of being romantically linked to former PIC CEO Dan Matjila, was acting as an agent for MST.

Acafrao says they began building the units before they had received the money from the PIC, which put them in a difficult situation when the money was not forthcoming. The company began using money earmarked for other things, like money owed to the SA Revenue Service, because of the delay in receiving the funds.

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