VIMAL V. RADIA, KAMAL V. RADIA, S. V. RADIA & VINODEEP INVESTMENT PROPERTIES LTD V. CITY FINANCE BANK LIMITED

JUDGMENT OF THE COURT

This is an appeal by the unsuccessful plaintiffs, now the appellants, against the judgment of the Honourable P. J. Ransley, Commissioner of Assize (as he then was), delivered on 7th December, 2000, whereby he dismissed with costs the appellants' suit against the respondent for a claim of Shs.17,519,353.20 together with interest thereon and costs being in respect of aggregate amounts of Fixed Deposit Receipts placed with the respondent on diverse dates between 26th August, 1998 and 15th October, 1998.

The facts giving rise to the appeal are largely not in dispute and may be briefly stated as follows. The 1st,2nd and 3rd appellants are directors of the 4th appellant. They are all engaged in business. The respondent is a limited liability company operating as a financial institution under the Banking Act Cap 488 Laws of Kenya. Between 26th August, 1998 and 15th October, 1998, the appellants placed with the respondent a total of Shs.17,519,353.20 on Fixed Deposit Recei…