Dar es Salaam. Independent Power Tanzania Limited (IPTL) faces a new internal dispute as one of its minority shareholders has petitioned the High Court for the company’s liquidation.
Eurasia Holding Limited, which owns a 10 percent stake in IPTL, is calling for the winding-up of the company or, alternatively, payment of $25 million as compensation for its shares.
The petition, filed as Miscellaneous Civil Cause No. 30802 of 2024 at the High Court in Dar es Salaam, accuses the majority shareholders of mistreatment, discrimination and mismanagement.
Eurasia Holding claims these actions breach IPTL’s Memorandum and Articles of Association and Tanzanian corporate law.
Eurasia Holding alleges it has been sidelined in IPTL’s…
