In 1923, the American Consul in Aden reported in a memo that Bitwoded Haile Giyorgis, confident that former (uncrowned) emperor Iyasu V would soon regain to the throne, had placed the deposed monarch's assets under the control of Mohammedally & Co. to "get the accounts in shape" in advance of the anticipated restoration.
Shortly thereafter, Bitwoded Haile Giyorgis ended his association with the firm, leading to a long legal battle in which he sued the company for £45,000.
As an indication of the depth of ties, branch managers were briefly appointed as acting British consuls in Harar and Dire Dawa in 1924 and Jimma in 1936.
[1] Their success in this endeavor is unknown, although the Ethiopian government did send an envoy to Bombay for this purpose, and elders of the Indian community in Ethiopia recalling the receipt of funds.
As a result of its long connection to the Ethiopian government, the Italian occupation administration was suspicious of the firm, and following the assassination attempt on Governor-General Rodolfo Graziani, suspected it of complicity in the failed attack.