BY NT CORRESPONDENT.
A company associated with Nyeri county gubernatorial aspirant Githinji Kinyanjui Cocoriko is seeking to stop Jamii Bora Bank Limited from selling his assets.
The Company wants pending hearing and determination of the suit Jamii Bora Bank be restrained from appointing a receiver or liquidator over the business and the assets.
He now wants the court to issue permanent injunction restraining the bank from appointing its agents from interfering with the process of subdivision and sale of them or otherwise.
“Pending the hearing and determination of this suit, an injunction do issue restraining the Defendant, by itself, its appointed receivers, servants, auctioneers, agents, or advocates or any of them or otherwise from interfering with the process of subdivision and sale of the sub-divisions of the properties known as Land Reference numbers 2279/2 and 3223 Nyeri” reads the court documents.
The company Green Africa Limited on it court document claims that Jamii Bora Limited has threatened to sell his assets and appoint a liquidator over the assets and his business.
Green Africa says that the process adopted by the defendant is unlawful and contrary to statute because the bank breached the terms and conditions of the letter of offer.
In an affidavit Cocorico argues that he purchased properties through a loan of 369 million shillings that was granted by Jamii Bora Bank.
They approved an agreement that the land would be subdivided and sold and from the proceeds bank will get its loan paid. He however claims that in June last year the bank from nowhere placed a caveat on the land in complete disregard of the law.
He says that the bank has engaged in malicious and unlawful actions meant to portray his as a defaulter.
“Jamii Bora has warned the public against undertaking any transactions within the suit properties and the development alleging that they are illegal” claims Cocorico.
He claims unless the orders are issued he stands to suffer loss and damage.
In the court papers filed this afternoon the petitioner argues that issuing a 14 days’ notice demanding the sum of 369 million shillings within 14 days and threatening to sell the suit properties in default of payment is unlawful and fatally defective.
“For purposes of marketing and undertaking the business of real estate, the Plaintiff has at all times engaged a company known as Madiba Properties Limited which is responsible for the day to day affairs relating to the construction and development” said Kinyanjui in the affidavit.
He claims the properties were purchased through a loan of Kshs. 369 Million granted by the Defendant. The loan was pursuant to a Letter of Offer dated 10th March 2015 which set out the terms and conditions.
The matter was filed under certificate of urgency.
