OSIM sued over its shares in TWG Tea

LIFESTYLE products firm OSIM International has been served a writ of summons by The Wellness Group Pte Ltd and its chairman, Manoj Murjani, over its shares in TWG Tea yesterday.

"The claim in the writ of summons relates to the recent subscription by the company (OSIM) and Paris Investment of the shares in TWG Tea and other disputes," said OSIM.

"The Wellness Group and Manoj claimed that the issuance of shares was an act of minority oppression and is in breach of the terms of the shareholders agreement dated March 18, 2011, entered into between the company (OSIM), Paris Investment, The Wellness Group, and TWG Tea," it added.