BY SAM ALFAN .
A widow of late cabinet minister Simoen Nyachae has moved to court seeking to remove a stepson as one of the directors in the family businesses.
Martha Mwangi Nyachae suing through his son Michael Nyachae wants Leon Nyandusi Nyachae removed as a director of all companies.
She is further seeking an order for the reversal of issuance of shares to new shareholders in Sansora limited and Sansora Bakery limited and revocation of introduced new shareholders respectively the position ante restored.
The also wants removal of Grace Wamuyu Nyachae and Leon as signatories to the all company accounts in all banks where the company accounts of all the companies are held and be replaced by signatories properly appointed by resolutions in meetings to be properly convened by all directors.
“A declaration that the 3rd Defendant is not fit to practice as a company secretary and his practicing certificate be revoked. A declaration that the 2nd Defendant has never been legally appointed a director or managing director of any of the companies,” pleads the widow.
In the petition, Martha wants the court to restore the shareholding in all the companies as at December 2017.
She is also seeking the production of information in relation to the acquisition of one of the beneficiaries as a shareholder in Sotik Highlands Limited and information as regards the purchase of Transnational Bank Limited by Access Bank where the 34 interested party had 8,217,059 shares and the money market accounts held by the interested parties at ICEALION Asset Management.
“A declaration that the Defendants do account for all the money that came to their possession as regards dealings associated with their illegal acts in relation to the bank accounts of all interested parties and monetarily compensate the Plaintiff accordingly,” seeks the widow through his son.
According to court documents filed before Milimani commercial court, she says she is aware that the family’s business including Sansora Bakery Limited, Kabansora Ltd, Sansora Ltd,Sansora Oil Mills Ltd and Sansora Group Limited run banking accounts with Credit Bank ltd whereas Simbi Investors Ltd, Kabansora Ltd, Sansora Investments Limited and Sansora Group Limited run banking accounts with Bank of Baroda.
She further claims that in a bid to dilute the shareholding Grace, Leon and Robert Ndung’u, fraudulently introduced new shares in Sansora Limited and Sansora Bakery Limited and issued them to Sansora Investments Limited and Sansora Group Limited respectively.
She further Grace and Leon with the help of Credit Bank and Bank of Baroda have effected transactions akin to money laundering in the accounts held at Bank of Baroda in the names of the companies where she is a substantial shareholder.
She also claimed that Grace and Leon have illegally transacted in the accounts of all the companies that were being operated solely by the late Simeon Nyachae who died testate in February 2021.
The widow also wants the two do account for all the monies that came to their possession during their illegal activities and compensate her a monetary value to be determined by court and be ordered to refund all the monies fraudulently taken to their possession into the respective bank accounts taken from and the court to order the Director of Access Bank where Simbi Investors limited had 8,217,059 shares and the money market accounts held by the interested parties at ICEALION Asset Management.
The widow through his son wants the two to account for all the monies that came to their possession during their illegal activities and compensate her with a monetary value to be determined by court and be ordered to refund all the monies fraudulently taken to their possession into the respective bank accounts taken.
Further she wants the court to order the Director of Criminal Investigations to commence investigations concerning the alleged forgeries occasioned in all companies to give way for prosecution to unsue.
She further wants the court declare that the actions of Grace Nyachae, Leon Nyachae, Robert Ndung’u, Credit Bank ltd and Bank of Baroda (K) ltd on all the companies are fraudulent and illegal and void ab initio.
She adds that it is clear from paragraph 11 hereof that the two banks enjoy similar customers (interested parties) whose accounts are run by Grace Nyachae and Leon Nyandusi without the participation of the Plaintiff and they have refused to give any information to the Plaintiff even after demand.
Martha Nyachae in her further affidavit adds that the orders issued by Justice Mwita on 20th April this year stated ordered that Grace and Leon to reveal and provide all Bank names and accounts of all seven and of any company associated with the family companies within their knowledge.
According to her court documents, another order by Justice Mwita required the two to to provide all the particulars of all Bank Accounts held in various Banks by the seven and to account for monies and all transactions handled by them on behalf of all the companies.
He accuses the two of refusing to comply with the said court order and more Importantly, they have refused to account for monies and all transactions handled by them on behalf of all companies.
The companies includes Sansora Group ltd, Sansora limited, Simbi Investors limited, Sansora Investments ltd, Sansora Bakery limited, Kabansora limited and Sansora Oil Mills ltd.
Through his son replying affidavit, the widow further adds that Justice Mwita issued the order requiring Grace and Leon not to deal with the affairs of the companies or authorize withdrawal of any money from the seven companies accounts without her son participation.
He adds that the two have disobeyed the aforesaid order and have gone ahead and dealt and authorized withdrawals of monies from the accounts held by the Interested parties in the Sansora Investments ltd Bank accounts without his participation.
“I as the owner and majority shareholder of the seven companies asked Grace Wamuyu Nyachae as my co-widow that we restructure the signatories and introduce myself as a signatory to all Bank accounts of the interested parties but instead, she instructed her son, Leon to abuse my rights and even went ahead to terminate my medical arrangement with the pharmacist and that of my son Michael Moragia Nyachae too which my late husband had established more than 30 years ago,” says the widow through his son.
