RULING OF THE COURT
1. The Applicant, AJAY I. SHAH, was the 1st respondent in the High Court Civil application No.294 of 2010 at Commercial and Admiralty Division, Milimani Law Courts, Nairobi while PRAFUL SHAH was the 2nd respondent and Deposit Protection Fund Board as Liquidator of Trust Bank Limited was the applicant.
2. On 30th May 2013, the High Court (the Hon. E.K.O. Ogola J.) delivered a Ruling allowing a notice of motion filed by the Deposit Protection Fund Board as Liquidator of Trust Bank Limited (in liquidation) with the effect that the four orders as prayed in the motion were granted. These were:
(a) A declaration that the respondents Ajay Shah and Praful Shah who acted as Executive Directors of Trust Bank Limited (in liquidation) were knowingly parties to the carrying on of business of Trust Bank Ltd (in liquidation) with intent to defraud creditors of the Company and for a fraudulent purpose.
(b) A declaration that the Respondents Ajay Shah and Praful Shah who acted as Exec…