Sister’s kidnapping helped push troubled transport firm over the ...

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Sister’s kidnapping helped push troubled transport firm over the edge

Judges slaps provisional liquidation on controversial companies owned by Sandra Munsamy’s two brothers

Journalist

Crossmoor Transport, the logistics company owned by KwaZulu-Natal business tycoons, brothers Alvin and Inderan Naicker, has been placed in provisional liquidation by Absa Bank.

One of the excuses for its “cash-flow problems” was the kidnapping of their sister, company CFO Sandra Munsamy, in May 2019.

The company – and its “sister” company, Xmoor – owe the bank R141m for financed equipment and, at the time of the liquidation hearing in May, was in arrears for about R6.6m...

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