JUDGMENT OF THE COURT
Standard Chartered Bank Kenya Limited, the respondent in this appeal (hereinafter called Athe defendant @) lent Industrial Hardware (Kenya) Limited, the sixth appellant (hereinafter called Athe sixth plaintiff @) Shs 16,200,000/= against the security of a legal charge over Plot L.R. No. 209/942/1 Nairobi, (hereinafter called Athe property @) the personal guarantees of its directors, Nathalal Rai, Shantaben Rai, Biharlal Rai, Jagdish Rai and Dharmendra Rai (hereinafter called t he Afirst, second, third, fourth and fifth plaintiffs @). The first and second plaintiffs are the registered owners of the property. An additional security was provided in the form of a debenture over the movable assets of the sixth plaintiff to the tune of Shs 12,500,000/=.
The sixth plaintiff defaulted and the defendant moved to realise its security by exercising its statutory power of sale. In order to stop the defendants from selling the property by public auction, all the six plaintiffs …