RULING OF THE COURT
The notice of motion dated 17th July, 2006 and filed in court on 18th July, 2006 seeks an order for stay of execution of a decree issued by the superior court and it came up for hearing on 26th September, 2007. Before the hearing however, the respondent raised an issue of jurisdiction and we gave an order that the issue be argued in limine. It is this: the applicant has not obtained any sanction of court under section 228 of the Companies Act, Cap 486 Laws of Kenya, to institute any appeal or file the application against the respondent and therefore the court has no jurisdiction to hear the matter. This ruling is limited to the determination of that narrow issue. Some few background facts will illuminate the issue:
M/S. Trust Bank Ltd (the “Bank”) sued, some five defendants in H.C.C.C No. 413 of 1997 claiming unpaid huge loans advanced to those defendants. The applicant here, Kirtesh Premchand Shah (“Shah”) was the 2nd defendant in that suit. During the pendency of t…