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Printing Industries Limited & Multiple Industries Limited v. Bank of Baroda

(2017) JELR 94868 (CA)

Court of Appeal  •  Civil Appeal 277 of 2014  •  3 Mar 2017  •  Kenya

Coram
Milton Stephen Asike Makhandia, William Ouko, Kathurima M'inoti

Judgement

JUDGMENT OF THE COURT

The dispute regarding some financial facilitiesamounting to Kshs.49,132,286.25 advanced to the appellants by the respondent on the security of LR 209/6857(theproperty), culminated in the former instituting an action in the High Court for,among other prayers, a declaration that the debthad been fully settled, an injunction against the respondent to restrain it from disposing of the property, mandatory injunction to compel the respondent to release to the appellants the title documents to the property; and an order for the respondent to refund to the appellant Kshs.20,052,557.63, the amount they claim to have been overcharged.In its defencethe respondent indicated that the appellants were truly indebted to it in the sum of Kshs.49,132,286.25.While the suit was still pending, the respondent applied and was granted leave to introduce minoramendments to the defence. In the course of the hearing and after three witnesses had testified on behalf of the appellant, the res…

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