Grancy Property Limited and Another v Dines Chandra Manilal Gihwala and Others (512/2022)
Grancy Property Limited and Another v Dines Chandra Manilal Gihwala and Others (512/2022) [2024] ZASCA 144; 2025 (2) SA 76 (SCA) (23 October 2024)
The Supreme Court of Appeal held that Grancy was entitled to the economic benefit of half the additional Scharrig option shares allocated to the DGFT, as established by the Joffe Schedule and the terms of the Scharrig agreement. The Court found that Grancy had authorised the disposal of its initial and option shares at R5.75 per share in January 2006 and had accepted the proceeds, negating claims of unauthorised sale or entitlement to higher damages based on the highest intermediate value principle. The Court rejected the application of the highest intermediate value rule, finding it foreign…
Source excerpt
- Breach Of Fiduciary Duty
- Quantification Of Damages
- Black Economic Empowerment
- Secret Profit Disgorgement
- Prescription
- In Duplum Rule