CBK, Imperial asked to point out key issues in tycoon’s suit

The Central Bank of Kenya building in Nairobi. The CBK has enjoined in case. file photo | nmg 

By PHILIP MUYANGA

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Summary

• Mombasa billionaire Ashok Doshi wants parties stopped from using his billions.
• Last year, Doshi and his wife Amit sued the CBK and Imperial Bank, which is under receivership seeking suspension of a scheme of payment to depositors, which was being implemented by two commercial banks.
• The court later lifted the orders suspending schemes of payment.

The High Court has directed a Mombasa-based billionaire, the Central Bank of Kenya (CBK) and Imperial Bank to file a statement highlighting issues they will argue during the hearing of a case between them.

Justice Patrick Otieno, sitting in Mombasa, further ordered the parties to attend court in June to agree on how the case will proceed.

The court issued the orders after it noted that case conferring had not been done between the parties.

Last year, Ashok Doshi and his wife Amit sued the CBK and Imperial Bank, which is under receivership seeking suspension of a scheme of payment to depositors, which was being implemented by two commercial banks.

The court later lifted the orders suspending schemes of payment.

The plaintiffs who had a Sh1 billion deposit at Imperial also wanted the court to order the defendants to deposit the same amount of money into an escrow account in the names of their advocates.

Through their lawyer Francis Kadima, the two wanted an injunction restraining CBK and Imperial from further continuing with any dealing of their (couple’s) money in any manner either by investing, transferring to banks or the Kenya Insurance Deposit Corporation.

They also sought an order directing the defendants to file Imperial Bank’s statement of account showing liquidity in the deposit account, audit statement published and approved for 2014/2015 and any other liquid and tangible securities held by the CBK as at October 13 last year.

The application by the couple was based on the grounds that they held both dollar and shillings accounts with Imperial.

In his affidavit in support of the application, Mr Ashok Doshi said together with his partner, they learnt through a press release that Imperial Bank had been put under receivership.