High Court judge Pisirayi Kwenda has reserved his ruling in the matter fraud-accused businessmen Mike Chimombe and Moses Mpofu are appealing for bail.

Chimombe and Mpofu are accused of swindling the State of US$7 million in a botched Presidential Goats Scheme.

The pair is seeking bail at the High Court after they were denied the same by Magistrate Marewanazvo Gofa.

Kwenda said his "ruling should be ready by August 19."

The State opposed the duo's bail saying that the appeal was unnecessary considering their trial date has been set.

But their lawyers insisted that the indictment has no implications on the present appeal.

The appellants have the right to appeal against any decision that dissatisfies them.

"The appellants are appealing against the inferior court's ruling in which they were denied bail," argued Tapson Dzvetero one of the lawyers representing the two.

Chimombe and Mpofu were indicted for trial on Wednesday.

Their trial on allegations that they allegedly forged a ZIMRA Tax clearance certificate and a NSSA compliance certificate in the name of Blackdeck Private Limited and attached them in a bidding document which they submitted to the Ministry of Land for a tender for the supply and delivery of goats for the Presidential Goat Pass-on Scheme.

Their trial will run from October 1 to 4 on a continuous roll.