This archive report was first published on 22 December 2019.
On December 22, 2019, the High Court in Mombasa dismissed an application by the Central Bank of Kenya (CBK) opposing tycoon Ashok Doshi from producing copies of original bank documents he used to deposit over Sh920 million with Imperial Bank.
Justice PJ Otieno ruled that CBK had failed to justify what injustice or abuse is likely to be prevented by stopping Doshi from producing the photocopies of the bank deposit receipts.
According to the court ruling, CBK had consented to file other relevant documents they wished to rely on, but failed to do so, fearing exposure as victims of double speech on the same issues in other cases elsewhere.
Mr. Doshi had deposited $8.715 million (Sh890 million) on a fixed deposit account to mature in December 2015 and Sh49.2 million in local currency before Imperial Bank went under.
Justice Otieno stated that the current application was devoid of interest of justice and was a disruptive manoeuvre that could have been avoided.
Mr. Doshi had sued CBK and Imperial Bank in June 2018 for withholding his money.
