Ex-ARM boss given five days to raise Sh1.3b to save firm

Arm Cement Ltd Managing Director Pradeep Paunrana during an interview with the Standard team at his Nairobi office. [File, Standard]

Founder of struggling Athi River Mining Cement Company (ARM) Pradeep Paunrana has been given five days to raise Sh1.3 billion to stop his company from sale.

The court ruled that Paurana must produce a bank guarantee of Sh1.3 billion to enjoy court orders freezing the sale until a case filed in court is heard and determined.