Case on Imperial Bank deposits to start

Mombasa based multi-billionaire businessman Ashok Doshi at Mombasa Law Courts. He has sued Central Bank of Kenya and Imperial bank for withholding his money that he deposited in six different fixed accounts. [Standard]

The High Court has ordered a fresh start for a multi-billion shilling case involving Mombasa-based billionaire Ashok Doshi against Central Bank of Kenya and Imperial Bank.

Justice PJ Otieno directed the fresh start yesterday, after the defence counsel for both parties agreed.

“I hereby set aside the pre-conference orders as at November 27, 2017, and stay the early orders. The matter will start afresh. Let the plaintiff (Doshi) file a detailed statement and documents within 14 days. And upon service the defence shall file relevant documents within 14 days,” said the judge.

He further directed both parties to synchronise any issues they wanted considered within 30 days before July 27, for a fresh pre-trial conference.

Mr Otieno had earlier issued direction to have Doshi testify despite producing photocopies of bank transactions.

Bank statements

Yesterday, senior counsel Philip Murgor for Imperial Bank, Paul Chege for CBK, and Francis Kadime representing Doshi, failed to agree on the production of photocopies of the bank statements used to deposit more than Sh920 million withheld by Imperial after it went under receivership.

Murgor and Chege insisted that Doshi should produce the original bank documents he used to deposit $8,715,000.01 and a fixed deposit with Sh49, 163,359.59.

The three advocates finally agreed after two days of submissions.

Doshi has sued Central Bank of Kenya and Imperial Bank for withholding his money, which he had deposited in six different fixed accounts

On Monday, Doshi told the judge that CBK failed in its duty by allowing the directors of Imperial Bank to mismanage the institution for 13 years, thereby exposing their deposits to wastage.