Listed food producer Kakuzi has petitioned a tribunal to stop the Capital Markets Authority (CMA) from investigating it over allegations of shifting profits abroad and corporate governance breaches perpetrated by its majority shareholder Camellia Plc.
Kakuzi and its directors have asked the Capital Markets Tribunal to stop the regulatory investigations, saying the CMA summons are illegal because the watchdog has failed to identify the complaint, show records of conflict of interest and evidence of irregular financial dealings.
