Furthermore, the court took judicial notice of agreement signed by VIP and PAP, for which the former sold its 30 per cent shares in IPTL and conveyed to the latter its rights, title and interests connected to the shares, including monies in the Tegeta escrow account at Bank of Tanzania (BoT).
The International Independent Consultant with VIP, Mr James Rugemalira, recently announced his company's decision to withdraw the petition and resolved to sell its shares to PAP after noticing his co-shareholder, Mechmar Corporation (Malaysia) Berhard, did so since 2010.