BY SAM ALFAN.
A businessman and his company Good Earth (Group) ltd have been charged with obtaining security of over half billion shillings.
Jayesh Umedlal Shanghavi and the company appeared before Milimani senior principal magistrate Wandia Nyamu and denied the charges.
Jayesh, his wife Nina Jayesh Shanghavi (absent during plea) and Good Earth (Group) ltd are accused that between December 10, 2018 and November 23, 2020 in Nairobi, by false pretences and with intent to defraud, jointly with others not before court induced Victoria Commercial Bank ltd to execute First Legal Charge over agreement Number B2 erected on land reference Number 1870/11/253, Nairobi (Crystal Edge Apartments) to secure Sh520, 000,000 million as valuable security.
He was released on a cash bail of Sh400, 000 pending hearing and determination of the criminal case.
