The sacked chief executive of the indigenous Fijian company, Ba Provincial Holdings, stormed its headquarters in Lautoka late yesterday and forcefully entered the premises.
Fiji TV showed pictures of Isimeli Bose leading a group of his supporters armed with iron bars into breaking down the main gates and taking physical control.
The pictures showed the supporters beating up security guards hired by the new board and management of the company and chasing them off the premises.
Mr Bose was sacked earlier this week after allegations ranging from excessive debt levels to misleading financial statements, lapses in corporate governance and gross mismanagement.
A meeting of shareholders of the company, who included President Iloilo, appointed the former ambassador to Japan and two-time brief prime minister after the coup, Ratu Tevita Momoedonu, as the new board chairman.
Mr Bose failed to have his sacking declared null and void by the Lautoka High Court on Thursday.
This is the second such incident in a month after the sacked managing director of Strategic Air Services at Nadi International Airport, Watisoni Nata, stormed its offices with armed thugs, attacked security guards and removed equipment.