BY SAM ALFAN.
A home owner has failed to stop Diamond Trust Bank from selling his property located at Westlands for failure to service a Sh43 million loan.
Justice Alfred Mabeya dismissed the application by Vipul Jasvantral Sheth stating that the property had already in possession of third party.
The Judge said the sale by public auction was already conducted and the property is now registered in the name Hemkur Holding limited who was boni fide purchaser.
“The application has been overtaken event. The court cannot restrain a sale that has already taken place,” ruled Judge Mabeya.
Evidence tabled in court show that Jasvantral obtained a loan of Sh43 million from Diamond Bank ltd and which was secured by the said property.
And after failing to service the loan, the bank advertised the sale through public auction and was sold to Hemkur Holding ltd at Sh42 million.
Hemkur Holding emerged as the highest bidder as per court documents.