AYO Technology compliance notice set aside

eNCA's Aviwe Mtila is tracking the case. Courtesy #Dstv403

JOHANNESBURG - The North Gauteng High Court has set aside a compliance notice which claimed that Ayo Technology must repay money it received from the Public Investment Corporation. 

WATCH: Deadline for PIC to recover Ayo money suspended

Regulators wanted Ayo to repay nearly R4.3-billion, within a matter of weeks.

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Now, it seems that won't happen. 

The CIPC in February issued the asset manager with a compliance notice to recover its R4,3-billion investment in the JSE-listed technology company.

It also wants any interest that may have accrued on the investment paid within six months.

Source
eNCA