BY NT CORRESPONDENT.
Billionaire has dismissed claims that he is bankrupt and termed the allegations as malicious
The City tycoon Raju Sanghani wants former proprietor of Jack and Jill supper Market Mr Schon Noorani desist from carrying out smear campaign against him by spreading malicious rumors that he his bankrupt.
Mr Raju has not denied owing him a balance of Kshs 167,270,500, saying Noorani has been previously paid in vouchers to tune of over Sh 2 million, adding that bankrupt issue does not arise.
Mr Raju states that from January 2016 to April 2018 has paid him a total of Sh 303,153,501 this indication shows that Noorani claim contains a lot of falsehoods that goes towards tarnishing the good reputation of the business tycoon.
The dispute between the parties is still pending before commercial court awaiting determination.
“As per the terms of agreement, I have made payments in installments defraying the principal sum and an interest of 1.5% per month to a total amount owed. I have always paid all installments in time and never been in arrears”, he argued.
He claims that due to unreasonable interest rates imposed to him by the creditor, it is becoming increasingly difficult for me to make the monthly payments.
Attempts to reach agreement with Noorami on payment structure has proven futile due to his unreasonable demands on interest calculations compounded.
