RULING OF THE COURT
This is an application for injunction made under Rule 5 (2) (b) of the Court of Appeal Rules to restrain the respondent bank (bank) from offering for sale, entering into any agreement of sale, disposing, transferring or interfering with the applicants possession of L.R. No. 295/17 and L.R. No. 10874/7 pending the hearing and determination of an intended appeal from the ruling of the superior court (Kasango J) dismissing an application for an interlocutory injunction.
The two suit properties originally belonged to Bawan Holdings Limited which apparently was a sister company to Bawan Roses Limited (BRL) incorporated on 10th August, 1995. The authorized and issued share capital of BRL was Shs.26,520,000/= divided into 1,326,000 shares of Shs.20/= each held as to 1,325,999 shares by Bawan Holdings Ltd and as to 1 share by Betty-Ann Mboche. Sometime in 2003, Bawan Holdings Ltd agreed to sell the two properties to Mrs. Betty Ann Mboche and Mr. Wilson Mboche Waithaka for Sh…