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Ramji Haribhai Devani Limited v. Kenya Commercial Bank Limited

(2006) JELR 96467 (CA)

Court of Appeal  •  Civil Appli 128 of 2006  •  16 Jun 2006  •  Kenya

Coram
Philip Kiptoo Tunoi, Emmanuel Okello O'Kubasu, John walter Onyango Otieno

Judgement

RULING OF THE COURT

The applicant, Ramji Haribhai Devani Limited, is in the business of manufacturing wide range of consumer products from its base at Industrial Area in Nairobi. It was originally with Barclays Bank as its bankers, but later it claims, that the respondent, Kenya Commercial Bank Limited, lured it into moving its bank account to the respondent upon promise of extending to it favourable banking facilities both as regards loans and overdraft facilities. The applicant, upon that understanding, applied for and was granted overdraft and loan facilities with the respondent and the applicant deposited with the respondent several securities together with legal charges to secure the loan facilities. The facilities were extended from time to time from the year 1988 and the applicant also provided more securities for the same facilities. Later, after the year 1993, the respondent reneged on the same promises made earlier and began to apply banking guidelines that were unfavourable …

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