RULING OF THE COURT
The events leading to the application, the subject of this ruling has to do with a property known as LR 209/1350/2 “the suit property” situate in Industrial Area, Nairobi, then belonging to the 1st respondent. It was alleged in the suit filed in the High Court by the 1st respondent that the 2nd respondent advanced a loan facility amounting to Kshs. 1 million to Mirema Drive Estate Limited “the borrower” in November 1997. As security for the facility, the 1st respondent executed a guarantee to the borrower and the suit property was in effect charged in favour of 2nd respondent. Upon alleged default by the borrower to repay the loan amount, the 2nd respondent advertised the suit property for sale in the exercise of the statutory power of sale. Following the advertisement, the 1st respondent filed HCCC 1971 of 2000 against the 2nd respondent disputing, inter alia that a statutory notice had been served upon it in accordance with the mandatory provisions of the Indian T…