Mohammed Trans buses up for auction
What you need to know:
A public notice issued yesterday by MEM Auctioneers and General Brokers Limited says the buses and houses will be auctioned following an approval by the liquidator.
Forty eight buses and two houses belonging to Mohamed Trans Limited will be auctioned on July 28 and August 4 respectively.
A public notice issued yesterday by MEM Auctioneers and General Brokers Limited says the buses and houses will be auctioned following an approval by the liquidator.
According to the MEM manager, Mr Elieza Mbwambo, Mohammed Trans Limited was placed under the liquidator following huge debts it owes various business partners,
The statement shows that 47 buses, which are parked at the company’s yard in Shinyanga plus another one in Dar es Salaam, will be on sale come July 28.
“A house at Block B with plot number 219 and certificate of occupancy number 1682 in Nyegezi, Mwanza and that of Block V, Plot number 557 and 559 at Ngokolo area in Shinyanga will be sold on August 4,” reads part of the notice. Clarifying on the auction, Mr Mbwambo said: “The company is a loan defaulter of various financial institutions and individual companies. It also owes the Tanzania Revenue Authority (TRA) plenty of money.”
“They have huge debts that cannot be settled by auction of the company’s properties. However, it is the liquidator who will come up with a plan after the forthcoming auction,” he added.
According to the statement, both auctions will start from 10am.
