CBK secures order to auction Ajay Shah assets George Ngigi
Publication details: Nairobi Nation Media Group Ltd 2014Description: p. Business Daily (March 6th, 2014)Subject(s): Online resources: Summary: High Court has issued a decree to the Deposit Protection Fund Board (DPFB) allowing it to recover an estimated Sh1.5 billion from Ajay Shah and Praful Shah, who were accused of having been liable for office misconduct that resulted in the collapse of Trust Bank. Both Shahs are associated with various multi-million shilling real estate projects. The Shahs are, however, said to have fled the country which may make it difficult for the fund to execute the order.
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High Court has issued a decree to the Deposit Protection Fund Board (DPFB) allowing it to recover an estimated Sh1.5 billion from Ajay Shah and Praful Shah, who were accused of having been liable for office misconduct that resulted in the collapse of Trust Bank.
Both Shahs are associated with various multi-million shilling real estate projects.
The Shahs are, however, said to have fled the country which may make it difficult for the fund to execute the order.
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