Sets Aside Shares in Shareholding Dispute
A case filed by Fathhi Mohamed against Hassen Jiffry Zulfer and Digital Mobility
Solutions Lanka Limited, the company behind the popular ride-hailing platform PickMe,
came up today 12th of September before the Commercial High Court on a petition filed
by Fathhi Mohamed to prevent the IPO from proceedings unless his promised
shareholding was given to him or unless it was set aside.
Fathhi Mohamed alleged that Defendants Hassen Jiffry Zulfer and Digital Mobility
Solutions Lanka Limited were proceeding with the IPO in complete mala fides whilst
previously having obtained time till 18/9 to file Objections against a pending interim
injunction inquiry sought to prevent the IPO from proceeding.
However, when the matter came up today an undertaking was given to the Court that
shares amounting to 2% of the company belonging to Hassen Jiffry Zulfer would be set
aside until the conclusion of the pending interim injunction inquiry and on that basis the
IPO could be proceeded with.
President’s Counsel, Eraj de Silva appeared with Daminda Wijayaratne, and Sanjana
Mapatuna for Fathhi Mohamed whilst President’s Counsel Faizer Mustapha appeared
for the Defendants Hassen Jiffry Zulfer and Digital Mobility Solutions Lanka Limited.
