The High court has allowed the proprietor of Jack & Jill supermarket to attach shares in eight companies linked to a businessman who has refused to pay a debt of Sh200 million.
Schon Ahmed Noorani has been battling to recover the amount loaned to a friend Rajendra Ratilal Sanghani over a decade ago.
Documents filed in court show that Noorani loaned his friend turned foe the money between August 2012 and April 2018.
The money was to be repaid with interest.
The total amount loaned was Sh477 million and Rajendra paid part of it leaving a balance of Sh167million.
Rajendra admitted the debt but said he fell into financial difficulties owing to the prevailing harsh economic conditions.
What followed has been a fierce court battle as Noorani sought to recover the debt.
In December, Justice Wilfrida Okwany allowed Noorani to attach shares in the eight companies, which he had identified.
Justice Okwany ordered the directors or agents of the eight companies to furnish the court with financial documents and account of money or dividends due to Sanghani.
The companies include Real Management Services 2002 LTD, Real Court LTD, Fiona Investments ltd, Croydon Investments and Twiga Properties ltd.
Others are Gut Ventures LTD, Shivali Holdings LTD, Jyotin Investments LTD and Granada Trading Company ltd.
The matter will come up on March 23 to confirm whether the companies have complied with the directive.
In 2018, High Court judge Francis Tuiyot told Noorani to wait before taking any action against Rajendra who owed him Sh167 million.
Rajendra owed Noorani Sh167, 270,500 as the balance for a Sh477,100,000 unsecured loan advanced between August 1, 2012 and April 26, 2018.
He had filed for restructuring at the High Court and sought interim orders under Section 304 of the Insolvency Act.
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