The applicants have brought before the court two applications for certiorari to quash the judgment in default of appearance given by the High Court in Kumasi, dated 16th July, 2012 and presided over by Boon, J. The facts, statements of case and submissions in both applications are the same, the only difference being the interested parties. For this reason we have decided to give one composite ruling to cover the two applications.
The facts grounding the present application are as follows;
The interested parties herein, deposited monies with a company known as Onward Investment Company Ltd, which was operating as a banking institution.
On the 17th day of December 2011, the accounts of the company and its business activities were frozen by the Economic and Organised Crime Office on the instructions of the Bank of Ghana, the 1st Applicants herein. The reason for the closure was that this entity Onward was operating illegally and without a banking licence from the 1st Ap…