JARIBU CREDIT TRADERS LIMITED, SURESH NANALAL KANTARIA & KEVAL NANALAL KANTARIA V. BLUE LIMITED

RULING OF THE COURT

By a motion dated 8^th September, 2011 and filed on 9^th September, 2011, the applicants applied under Rule 5(2) (b) of the Rules of the Court for an order of stay of execution of the decree of the High Court dated 3^rd December, 2010 pending the hearing and determination of an intended appeal against the decree. The applicants also prayed for an order that the costs of and incidental to the application do abide with the result of the intended appeal.

The grounds upon which the motion was based were that the applicants had valid grounds of appeal with prospects of success and that unless stay of execution of the decree was ordered, the applicants stood to suffer substantial loss and irreparable damage.

The motion was supported by an affidavit sworn on 8^th September by Keval Nanalal Kantaria, the 3^rd applicant who is also the Managing Director of the 3^rd applicant. The respondent resisted the motion through an affidavit sworn on 5^th October, 2011 by Philip Muturi Mwangi, …