South Africa Case Law

Pillay v Stokes and Others (2022/22021)

Pillay v Stokes and Others (2022/22021) [2025] ZAGPJHC 733 (24 July 2025)

Court

South Gauteng High Court, Johannesburg

Case number

2022/22021

Judge

Maier-Frawley

The court found that the second and third respondents, acting as executive directors, failed to comply with statutory obligations by not holding annual general meetings, not preparing audited financial statements for several years, and failing to conduct due diligence on qualifying companies. Their explanations for non-compliance were inadequate and did not excuse their breaches. The directors' conduct amounted to gross negligence and wilful misconduct, justifying a declaration of delinquency under section 162(5) of the Companies Act. The fourth respondent, as a non-executive director, demons…

Source excerpt

• Delinquent Director
• Fiduciary Duties
• Companies Act Section 162
• Failure To Hold Agm
• Failure To Prepare Audited Financials
• Breach Of Subscription Agreement

S v Quantum Property Group Ltd (SH7/67/2016)

S v Quantum Property Group Ltd (SH7/67/2016) [2016] ZACOMMC 1 (21 July 2016)

Court

Commercial Crime Court

Case number

SH7/67/2016

A company pleaded guilty to failing to hold an AGM and provide audited financial statements, and was fined R40,000 with R15,000 suspended.

• Companies Act Compliance
• Failure To Hold Agm
• Failure To Provide Audited Financials
• Corporate Accountability
• Companies-act-compliance
• Annual-general-meeting