The court had in March this year ordered Tuju who is ordered the director of Dari Limited, to allow the managers appointed by the East Africa Development Bank to access a Karen property over a KSh1.5 billion defaulted loan.
Tuju was also ordered to provide the receivers with Dari’s statement of affairs, financial returns and company records, cash book as from December 23, 2019 to date.
He was also required to provide the management accounts, the debtors and creditors listing and the company’s staff payroll for the last three months.
But as it appears, the orders have never been complied with.
Tuju’s Dari Limited owns high-end Dari Restaurant in Nairobi’s Karen area, and a 20-acre recreational resort dubbed Entim Sidai.
Tuju and his kids were listed as guarantors when the company borrowed the KSh943.9 million loan from EADB in 2015.
The firm was placed under receivership in January this year over the KSh1.6 billion debt but Tuju appealed the decision.
About two weeks ago, Tuju deposited KSh 50 million in court in a bid to save the Karen property from being auctioned by the bank.
The Court of Appeal had directed Tuju to deposit KSh 50 million within 30 days, failure to which the bank will auction the property.
“We write to confirm that this condition has been complied with. Our clients have deposited KSh 50,000,000 in an interest earning account at NCBA Bank Kenya,” the letter stated.
The loan was meant to fund the acquisition of Tree Lane, a property in Karen, as well as developing and constructing residential units.
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